Overview
- Total Q3 revenue reached $150.5 million, up 104% year over year and 50% sequentially, with $118.6 million from product sales, $16.6 million in gross profit, a net loss of about $27.7 million, and positive adjusted EBITDA of $2.8 million.
- Self‑mining generated $30.6 million as the company produced 267 bitcoin at an average revenue of $114,485 per coin.
- Computing power sold topped 10 EH/s for a quarterly record, and North American customers contributed 31% of sales, including a U.S. order exceeding 50,000 Avalon A15 Pro units.
- Canaan reported 1,582 BTC and 2,830 ETH at quarter‑end, rising to 1,610 BTC and 3,950 ETH by October, alongside $119.2 million in cash supported by a $72 million institutional investment.
- The company launched its Avalon A16/A16XP miners rated up to 300 TH/s at 12.8 J/TH and started a Calgary gas‑to‑computing pilot, while shares closed up about 21% at $1.03 after the results.