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BTC $78,455.98 -0.66%
ETH $2,484.48 -0.01%
BNB $752.53 +1.82%
XRP $1.42 +1.64%
SOL $103.35 -0.34%
TRX $0.3385 +1.25%
DOGE $0.0898 -0.53%
ADA $0.2198 +0.27%
BCH $258.05 -0.12%
LINK $12.50 -1.68%
HYPE $84.69 -0.62%
AAVE $128.90 -2.08%
SUI $0.8106 -0.72%
XLM $0.1879 -2.45%
ZEC $1,183.29 +4.24%

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first_img Jia Nan Technology Q2 revenue was 31.9 million USD, mining 243 BTC

According to PR Newswire, Canaan Inc. (NASDAQ: CAN) announced its unaudited financial results for the three months ended June 30, 2026. Total revenue for the second quarter was $31.9 million, down from $62.7 million in the first quarter and $100.2 million in the same period of 2025, with product revenue of $13.6 million, mining revenue of $17.7 million, and other revenue of $600,000.Cost of revenue for the quarter was $61.2 million, resulting in a gross loss of $29.3 million, operating expenses of $40.1 million, an operating loss of $69.5 million, and a net loss of $97.6 million. Non-GAAP adjusted EBITDA loss was $74.9 million. Loss from changes in the fair value of cryptocurrencies was $9.3 million, impairment of property, equipment, and software was $9.2 million, and total inventory write-downs, prepaid expense write-downs, and inventory purchase commitment reserves amounted to $25.3 million.The company's self-operated installed mining capacity (non-joint venture) was 10.05 EH/s, an increase of 23.3% year-over-year, with an all-in electricity cost of approximately $0.043 per kilowatt-hour, mining 243 bitcoins during the quarter. Cryptocurrency reserves reached 1,915 bitcoins and 3,952 ethers. As of September 8, 2026, the company repurchased approximately 16.4 million ADS for a total of $7.4 million. The ABC project holds a 49% stake, with an installed capacity of 4.85 EH/s as of the end of July 2026.

F2Pool co-founder claims the rise of Zcash is due to narrative hype

F2Pool co-founder Wang Chun (@satofishi) pointed out that the current rise of Zcash is essentially a narrative-driven speculative behavior, rather than being supported by actual value. He listed several core issues: in terms of unfair distribution, 20% of the block rewards in the first four years were allocated as "founder's rewards" to founders, employees, advisors, and early investors, totaling 2.1 million ZEC, which accounts for 10% of the total supply cap. This was followed by a similar percentage taken under the name of a "development fund"; regarding privacy mechanisms, the privacy feature is optional rather than a default setting, and most tokens circulate in transparent addresses for a long time, criticized as a "marketing gimmick."In terms of governance, the Electric Coin Company (ECC) has long-standing management conflicts with the foundation, and in January 2026, the ECC team collectively left, claiming they were expelled. In terms of security, in May 2026, it was disclosed that the Orchard privacy pool had a serious vulnerability for four years, theoretically allowing the forgery of ZEC without on-chain traces. In July, the old pool was urgently closed and forced migration occurred, which was seen as a remedial action rather than a positive development. Wang Chun believes that Zcash being listed alongside Solana and Hyperliquid in market capitalization does not represent that it has the same actual application value; the current price reflects more of a "narrative short squeeze" rather than the network's fundamentals.

first_img Licheng, Jingyuan Electronics, and Silergy experienced a double increase in revenue in August, and Licheng's panel-level packaging capacity has been fully booked

Licheng, Jingyuan Electronics, and Silergy all reported year-on-year and month-on-month revenue growth in August, with Licheng and Silergy setting new historical highs for two consecutive months. Licheng's consolidated revenue in August was 8.558 billion New Taiwan Dollars, a month-on-month increase of 3.48% and a year-on-year increase of 24.46%. After breaking the 8 billion mark for the first time in July and setting a historical high, August saw another record. The cumulative revenue for the first eight months reached 61.258 billion New Taiwan Dollars, a year-on-year increase of 30.83%. Jingyuan Electronics reported revenue of 4.08 billion New Taiwan Dollars in August, a month-on-month increase of 2.23% and a year-on-year increase of 31.58%. The cumulative revenue for the first eight months was 29.404 billion New Taiwan Dollars, a year-on-year increase of 35.53%. Silergy's revenue in August was 2.07 billion New Taiwan Dollars, with a month-on-month increase of nearly 3% and a year-on-year increase of nearly 29%. The cumulative revenue for the first eight months reached 15.26 billion New Taiwan Dollars, a year-on-year increase of over 20%.Licheng's main source of growth this year remains the rebound in demand for memory packaging and testing. Licheng previously anticipated that revenue in the third quarter would show single-digit quarter-on-quarter growth, with the fourth quarter having the potential to exceed the third quarter. The momentum for memory orders is expected to continue until the end of the year, with a positive market outlook at the beginning of next year. In addition to its core memory business, advanced packaging has become a key focus for the next phase of development. The panel-level packaging has already been adopted by American clients, and the production capacity of the P11 plant has been secured by clients, with plans to enter the mass production phase of integrated ASIC and HBM AI chips by mid-2027.Jingyuan Electronics has been actively expanding its high-end testing capacity in recent years, with AI-related products becoming an important driving force for its operations. The testing demand for AI GPUs, ASICs, and high-performance computing chips remains its main source of growth. Silergy pointed out that the demand for AI and high-speed interconnects is strong, including an increase in demand for high-performance computing chips such as CPUs, GPUs, ASICs, and AI accelerators. After completing the cleanroom construction at the newly acquired Hukou plant in February, Silergy began mass production in July, currently achieving 40% of the total capacity of the plant and gradually taking on new demand from overseas clients.

first_img Metaplanet CEO responds to equity incentive doubts, shareholders say key issues remain unresolved

The CEO of Bitcoin Reserve Company Metaplanet, Simon Gerovich, posted on the X platform in response to the controversy surrounding the company's equity incentive plan and MMXX Ventures. Gerovich admitted that the company "failed to adequately explain" the incentive arrangement known as "Series 10 Stock Options" and stated that he is a "significant but non-controlling shareholder" of MMXX's parent company, not involved in its trading decisions.The controversy stems from a stock rights plan established in December 2022, with a reward pool set at 20% of Metaplanet's fully diluted equity. After shifting to a Bitcoin reserve strategy in April 2024, the company dilutes existing shareholders with each new share issuance, while Gerovich's option rights increase accordingly. On August 18, the board canceled the floating adjustment mechanism, fixing the Series 10 pool at 319 million shares and setting a five-year lock-up period, but did not restore the reward pool to the level it was at when the Bitcoin strategy was initiated. On August 28, Gerovich exercised 92,000 Series 10 options, acquiring 64 million new shares, and currently holds about 6.2% of the company; he and MMXX together hold over 27% of the fully diluted equity.Shareholders expressed dissatisfaction. A shareholder using the pseudonym The Bitcoin Pharaoh stated on X that the adjustments in August were "a step in the right direction," but demanded that Gerovich address the issues that have arisen, disclose the owners of MMXX, and restore the reward pool to the level it was at when the Bitcoin strategy was initiated.
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