This Bitcoin mining company’s stock is in free fall following Q3 loss
Cointelegraph
Published Nov 30, 2020 02:00PM ET
Updated Nov 30, 2020 03:40PM ET
The stock of one of China’s "Big Three" mining firms is in free fall Monday after reporting another quarterly loss, underscoring the operating challenges imposed by COVID-19.
Canaan Creative, which manufactures mining rigs, released its third-quarter financial results Monday. The company posted a net loss of $12.7 million, or 54 cents per share, on revenues of $24 million. Although quarterly revenues grew 5%, the company’s net losses more than quadrupled.
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Written By: Cointelegraph
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