嘉楠科技：公司近期业绩及经营摘要

Investment Rating - The report does not provide a specific investment rating for the company, 嘉楠科技 (CAN.US) [1] Core Insights - 嘉楠科技 reported total revenue of $35.09 million for FY24Q1, exceeding the previous expectation of $33 million by 6% [1] - The main revenue source was from mining machine sales, amounting to $23.4 million, which represents a 52% year-over-year decline from FY23Q4's $49.1 million [1] - The company achieved a net loss of $39.4 million, which is a 71.7% improvement compared to the previous quarter [1] - 嘉楠科技 held a record high of 1,057 bitcoins through its mining operations [1] Financial Performance - Total revenue for FY24Q1 was $35.09 million, surpassing expectations [1] - Revenue from mining machine sales was $23.4 million, down 52% year-over-year [1] - Mining revenue reached $10.46 million, a significant increase of 182.1% quarter-over-quarter [1] - The company’s market capitalization is $356 million [1] - The company sold 3.4 million Thash/s of computing power in FY24Q1 [1] Mining Machine Sales - 嘉楠科技 continues to sell its A14 series mining machines, with significant deliveries expected in Q2 and Q3 of this year [1] - The newly launched Avalon A1566 mining machine has an average computing power of 185 TH/s and an energy consumption of 18.5 J/T, which is leading in the industry [1] - Cipher, a well-known North American mining company, has ordered 6,600 units of the Avalon A1566, with the first batch expected to be delivered in Q4 2024 [1] Mining Operations - As of May 16, 2024, the company has 11 active mining projects globally, with a total installed computing power of 4.0 Exa hash/s and 3.0 Exa hash/s activated [1] - The activated computing power increased by 58% compared to the end of Q4 2023, mainly due to the reactivation of some machines in Kazakhstan [1] - The company plans to hold most of the digital currencies obtained from mining for the long term, only selling a small portion to cover operational costs [1] Business Outlook - 嘉楠科技 maintains its performance guidance for Q2 2024, projecting total revenue of approximately $70 million [1] - The company also anticipates total revenue of around $70 million for Q3 2024, reflecting its current and preliminary views on market and operational conditions [1]