Canaan Introduces Cutting-Edge Bitcoin Mining Machines - Canaan (NASDAQ:CAN)

Canaan Inc CAN, a high-performance computing solutions provider, launched its new generation of high-performance bitcoin mining machines, the Avalon Made A13 series.
Powered by advanced ASIC technologies, the new A13 series will include two different models with enhanced computing power and improved power efficiency over its predecessors.
Model A1346 features a hash rate of 110 TH/s and a power efficiency of 30J/TH.
Model A1366 has a hash rate of 130TH/s and a power efficiency of 25J/TH.
Chair and CEO Nangeng Zhang commented, "The launch of our new generation bitcoin mining machine is a key research and development milestone as we take our pursuit of higher computing power, better power efficiency, superior user experience, and optimal cost-effectiveness to a whole new level."
Canaan reported second-quarter FY22 revenue growth of 52.8% year-on-year to $246.7 million, missing the consensus of $257.7 million.
Earnings per ADS were $0.53, beating the consensus of $0.35.
Total computing power sold decreased 7.7% Y/Y to 5.5 million Thash/s.
Price Action: CAN shares traded lower by 4.02% at $3.10 in the premarket on the last check Monday.
Canaan Bitcoin Mining (photos credit: SPF by Shutterstock an Wikipedia)