Jia Nan Technology Q1 Financial Report: Total revenue was $82.78 million, a year-on-year increase of 135.9%

ChainCatcher news, according to official sources, cryptocurrency mining company Canaan Inc. (NASDAQ: CAN) has released its unaudited financial report for the first quarter. The report shows that driven by its self-mining business in Bitcoin, the company's total revenue for the first quarter reached $82.78 million, exceeding the previous financial forecast of $75 million, and representing a year-on-year growth of 135.9%.

The report indicates that Canaan's total sales computing power in the first quarter reached 5.5 million TH/s, a year-on-year increase of 62.6%. The company also achieved good results in self-mining: first-quarter mining revenue reached $24.25 million, a year-on-year increase of 131.9%, with a total of 259 Bitcoins mined, averaging $93,466 in revenue per Bitcoin. In terms of gross profit, Canaan's gross profit for the first quarter was approximately $650,000, compared to a gross loss of $37.33 million in the same period last year, marking a significant improvement from the previous downturn.