Canaan Shares Plunge as CEO Says Middle East Conflict Is Clouding Outlook for Bitcoin Miners

BTC

BTC/USDT

$84,474.01

+1.32%

$84,474.01

+1.32%

(24s)

24h Volume

$19,069,595,688.14

24h H/L

$84,942.45 / $83,156.00

Change: $1,786.45 (2.15%)

Long/Short

56.7%

Long: 56.7%Short: 43.3%

Funding Rate

+0.0020%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$84,644.26

▲ 0.28%

Volume (24h): -

Resistance Levels

Resistance 3$99,648.20

Resistance 2$94,549.91

Resistance 1$85,369.74

Price$84,644.26

Support 1$84,364.01

Support 2$81,859.10

Support 3$77,001.87

Pivot (PP):$84,075.87

Trend:Uptrend

RSI (14):66.0

Decrypt Editorial

(04:20 PM UTC)

1 min read

Canaan’s revenue dropped 68% quarter-over-quarter to $62.7 million, triggering a widening net loss of $88.7 million.
To secure "survivability," the firm reduced total quarterly operating expenses to $31.4 million, while trimming staffing costs.
Amid volatile crypto prices, CEO Nangeng Zhang is steering Canaan toward high-performance computing and AI infrastructure.

Canaan shares plunged…