Why Is Canaan (CAN) Stock Down 21% Today?

Canaan (NASDAQ:CAN) stock is falling on Thursday following the release of the crypto mining equipment company’s annual report for 2023.Canaan’s annual report includes several warnings about its business operations. The company is closely tied to Bitcoin (BTC-USD) as its miners are designed for that network. They can also mine Bitcoin Cash (BCH-USD) as it uses the same system.Canaan also notes that other dangers to its business include a potential change to the Bitcoin system that would leave its miners inop ...