Canaan Inc. Exceeds Guidance with Q2 2025 Total Revenues Up 39.5% YoY, Reports Gross Profit of $9.3M vs. Prior Year's Loss
Reuters
Aug 14
Canaan Inc. Exceeds Guidance with <a href="https://laohu8.com/S/QTWO">Q2</a> 2025 Total Revenues Up 39.5% YoY, Reports Gross Profit of $9.<a href="https://laohu8.com/S/MMM">3M</a> vs. Prior Year's Loss
Canaan Inc. has reported its unaudited financial results for the second quarter of 2025, showing a robust performance with total revenues reaching $100.2 million, marking a significant increase of 39.5% year-over-year. The company achieved a record-high in its Bitcoin mining revenues, which surged by 201.6% year-over-year to $28.1 million. Despite the impressive revenue growth, Canaan Inc. posted a net loss of $11.1 million in the second quarter, an improvement from the $86.4 million loss reported in the first quarter of 2025, and a $41.9 million loss in the same period of 2024. The company's non-GAAP adjusted EBITDA showed a positive turnaround, registering a gain of $25.3 million compared to a loss of $38.1 million in the previous quarter and a loss of $30.6 million in the second quarter of 2024. Canaan also noted a milestone in its Bitcoin treasury, which climbed to 1,511 by the end of July 2025.
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