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

BTC

BTC/USDT

$74,842.50

+7.98%

$74,842.50

+7.98%

(24s)

24h Volume

$38,807,118,646.64

24h H/L

$75,785.82 / $69,234.00

Change: $6,551.82 (9.46%)

Long/Short

52.4%

Long: 52.4%Short: 47.6%

Funding Rate

+0.0036%

Longs pay

Data provided by COINOTAG DATALive data

Bitcoin

Daily

$74,435.63

▲ 1.93%

Volume (24h): -

Resistance Levels

Resistance 3$78,568.57

Resistance 2$76,859.07

Resistance 1$75,785.82

Price$74,435.63

Support 1$73,674.39

Support 2$71,775.79

Support 3$70,580.26

Pivot (PP):$71,775.79

Trend:Uptrend

RSI (14):82.2

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…