Canaan Technologies, Inc. today announced its unaudited financial results for the three months ended June 30, 2024. Revenue for the second quarter of 2024 was $71.9 million, exceeding the previous estimate of $70 million and up 104.8% from the previous quarter. Total hashrate sold was 6.2 million Thash/s, up 83.9% from the previous quarter. Operating loss was $46.6 million, down 60.9% from the same period last year and 31.5% from the previous quarter. As of June 30, 2024, the company's holdings of cryptocurrency assets consisted primarily of 1,133.5 bitcoins with a total fair value of $69.9 million, which included 584.2 bitcoins owned by the company, 530 bitcoins pledged, and 19.3 bitcoins received as customer deposits. As of June 30, 2024, the company's cash was $66.8 million, compared to $96.2 million as of December 31, 2023.