‘Stagnant’ BTC Price and Rate Hikes Drove Down Crypto Miner Canaan Inc’s Revenues in Q3

Canaan Inc, the crypto miner and mining rig producer, said the company’s overall revenue in Q3 stood at $33.3 million or some $40 million lower than the Q2 revenue. According to the company’s CEO, stagnant bitcoin prices and rate hikes by the U.S. Federal Reserve were some of the key factors that contributed to the