Bitcoin mining machine manufacturer Canaan released its quarterly financial performance as of June 30. The company's financial statements showed total revenue of $73 million, an increase of 33.7% from the previous quarter. Canaan announced that its mining revenue has grown. As of the end of the quarter, mining revenue has increased to $15.9 million, a 43.4% increase from the first quarter of 2023's $11.1 million and a 105.1% increase from the same period in 2022.

Chief Financial Officer James Jin Cheng said that the cryptocurrency assets on Canaan's balance sheet have increased significantly by 115%, including the 747 bitcoins owned by the company. The statement said that this growth is equivalent to two factors: the extension of normal operating time and the increase in bitcoin rewards. At the same time, the company's net loss in the second quarter was $110.7 million, equivalent to inventory write-downs, commitment reserves, and equipment impairment.