Canaan: "78% of orders come from overseas customers" – Bits Media

Chinese mining equipment manufacturer Canaan Creative in its Q1 financials 2021 years reported, which is about 78% Offices for equipment come from abroad.

According to the company's report, for the first quarter 2021 the revenue of Canaan compiled $61.5 million, of which gross profit - $29.6 million. Moreover, the number of pre-orders of the Canaan ASIC Mainers from institutional buyers has grown from $67 million in December to $184 Milln as of 31 Martha.

“We have achieved good financial results in this quarter. The overall revenue increased by 489.9% In the annual calculus. We have achieved significant progress in expanding the global client base over the last quarter. ", - said the financial director of Canaan Tong Hu (Tong He).

Interesting, that in the first quarter of last year, orders for the KANAAN equipment from abroad were all 4.9%. I quarter 2021 year became the first reporting period, in which the volume of foreign orders exceeded orders of local mining companies.

Recall, that now the Chinese authorities are considering the possibility of prohibiting mining in the country, Therefore, miners significantly accelerated the withdrawal of capacities from the Middle Kingdom.