Cryptocurrency mining giant Canaan continues to generate significant revenues from crypto operations despite the ongoing crypto mining crisis.
Canaan’s total revenue for the first nine months of 2022 was roughly 4 billion Chinese yuan (RMB), or about $573 million, a spokesperson for Canaan told Cointelegraph. As the firm expects to generate another 310 million RMB ($46 million) in Q4, the total annual revenues is expected to amount to 4.3 billion RMB ($619 million).