Cryptocurrency News

Chinese mining giant Canaan doubles profits despite the blanket crypto ban

08/18/2022

Less than a minute

2022.08.18 18:38

Chinese mining giant Canaan doubles profits despite the blanket crypto ban

Major Chinese cryptocurrency miner manufacturer Canaan appears to have no issues with the local ban on crypto, as the company’s overall performance has continued to grow in 2022.

Canaan officially announced financial results for the second quarter of 2022 on Thursday, reporting a 117% increase in gross profit from the same period of 2021. According to the firm, the Q2 profits amounted to 930 million renminbi (RMB), or nearly $139 million.

08/18/2022

Less than a minute

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