Shares of cryptocurrency-related company Canaan Inc - ADR CAN are trading higher by 16.24% at $3.65 after the company reported first-quarter earnings results.
Canaan says total computing power sold was 4.3 million Thash/s, representing an increase of 119.1% from 2.0 million Thash/s in the same period of 2021.
Meanwhile, revenues were RMB1,356.1 million (US$213.9 million), representing an increase of 236.7% from RMB402.8 million in the same period of 2021. Gross profit was RMB829.8 million (US$130.9 million), representing an increase of 327.2% from RMB194.2 million in the same period of 2021.
See Also: Why Cisco Systems Stock Is Falling Today
According to data from Benzinga Pro, Canaan has a 52-week high of $11.50 and a 52-week low of $2.56.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
