The Chinese manufacturer of mining equipment Canaan Creative reported that in the II quarter of 2021, equipment was sold for $ 167 million, the company’s net profit was $ 38 million.
The total hashrate of the equipment sold during the reporting period was 5.9 Eh / s, which is about 4% of the hashrate of the Bitcoin network. By simple calculations, you can understand that, on average, the company’s customers pay $ 32 for each Th s of the purchased equipment.
The second quarter was the record for sales in the entire history of the company. Revenue increased five times compared to the second quarter of last year and 2.5 times compared to the results of the first quarter of this year. At the same time, the cost of the manufactured equipment amounted to about $ 101 million. Thus, the operating costs of the company amounted to about $ 28 million.
As of June 30, Canaan had already concluded deals for the supply of equipment worth $ 161 million. The management of the Chinese company expects revenue growth by 10-30% in the third quarter of this year.
In early June, the company reported that 78% of orders for equipment come from abroad. Canaan also announced the launch of its own mining farm in Kazakhstan.
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