Odaily Planet Daily News: Bitcoin listed mining company Canaan Technology released its 2024 financial report through official channels. The unaudited financial performance data for the fourth quarter and the full year ending December 31, 2024 showed that the total revenue for the full year of 2024 reached US$269.3 million, a year-on-year increase of 27.4%. Canaan Technology's total sales computing power for the whole year of 2024 reached 26 million TH/s, a year-on-year increase of 32.6%. In addition to the good growth in total sales computing power, mining revenue in the fourth quarter reached US$15.3 million, a year-on-year increase of 312.5%, and 186 bitcoins were mined. The total revenue of self-operated mining in 2024 was US$44.02 million, a year-on-year increase of 29.6%.
Canaan Technology expects total revenue for the full year of 2025 to reach US$900 million to US$1.1 billion. For the first quarter of 2025, the company expects total revenue to be approximately US$75 million. For the second quarter of 2025, the company expects total revenue to be between $120 million and $150 million.
As of December 31, 2024, the company held a total of 1,371.9 bitcoins, and the fair value of its cryptocurrency assets and cryptocurrency receivables totaled $131.4 million.