Bitcoin Miner Canaan Soars 16% After Shock 104% Revenue Spike, Defying Bitcoin’s Crash

Canaan’s stock surged on Tuesday after the Bitcoin mining chipmaker delivered its strongest quarterly performance in years, posting a 104% jump in revenue and a return to positive gross profit despite a steep downturn in the broader crypto market. The rally sent shares of Canaan up roughly 16% by mid-morning, briefly approaching the $1 mark, according to Yahoo Finance. Source: Yahoo Finance The bounce comes even as the stock remains more than 53% below its nine-month high near $2, a period that coincide ...