Canaan, World’s Top Mining Company Doubles Profits Despite The Crypto Ban

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Canaan, a significant Chinese manufacturer of cryptocurrency mining equipment, doesn’t seem to be bothered by the local prohibition on cryptocurrencies, as evidenced by the company’s continuous growth in 2022.
A 117% rise in gross profit over the same period in 2021 was reported by Canaan in its official financial statements for the second quarter of 2022.
The company reports that the second quarter’s profits totaled almost $139 million.


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