This Bitcoin mining company’s stock is in free fall following Q3 loss By Cointelegraph

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This Bitcoin mining company’s stock is in free fall following Q3 loss

Published Nov 30, 2020 02:00PM ET Updated Nov 30, 2020 03:40PM ET

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This Bitcoin mining company’s stock is in free fall following Q3 loss

The stock of one of China’s "Big Three" mining firms is in free fall Monday after reporting another quarterly loss, underscoring the operating challenges imposed by COVID-19.

Canaan Creative, which manufactures mining rigs, released its third-quarter financial results Monday. The company posted a net loss of $12.7 million, or 54 cents per share, on revenues of $24 million. Although quarterly revenues grew 5%, the company’s net losses more than quadrupled.

Canaan stock by Yahoo Finance

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This Bitcoin mining company’s stock is in free fall following Q3 loss

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