PANews reported on March 26 that Canaan Technology announced its unaudited financial results for the fourth quarter and full year ending December 31, 2024. The financial report 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 full 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 from self-operated mining in 2024 was US$44.02 million, a year-on-year increase of 29.6%.
Canaan expects total revenue to reach US$900 million to US$1.1 billion for the full year 2025. 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 US$120 million and US$150 million.
