{"id":93629,"date":"2026-05-19T16:46:35","date_gmt":"2026-05-19T16:46:35","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=93629"},"modified":"2026-05-19T16:46:35","modified_gmt":"2026-05-19T16:46:35","slug":"bitcoin-miner-canaan-issues-bleak-outlook","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=93629","title":{"rendered":"Bitcoin Miner Canaan Issues Bleak Outlook"},"content":{"rendered":"<div>\n<p><strong>Canaan Inc.<\/strong> <a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/quote\/CAN\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.benzinga.com\/quote\/CAN\" target=\"_blank\" class=\"ticker-link\" data-ticker=\"CAN\" data-exchange=\"NASDAQ\" rel=\"noopener\">(NASDAQ:<\/a><a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/CAN\">CAN<\/a>) stock fell Tuesday after the cryptocurrency mining hardware company reported mixed <a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/pressreleases\/26\/05\/n52656244\/canaan-inc-reports-unaudited-first-quarter-2026-financial-results\" rel=\"noreferrer noopener\">first-quarter results<\/a> and issued second-quarter revenue guidance that came in well below Wall Street expectations.<\/p>\n<h2 class=\"wp-block-heading\">First-Quarter Revenue And Earnings Weaken<\/h2>\n<p>First-quarter revenue declined to $62.69 million from $82.8 million a year earlier, although it slightly topped analyst estimates <a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/calendars\/earnings\" rel=\"noreferrer noopener\">of $61.35 million<\/a>. The company reported a quarterly loss of 13 cents per share, wider than analysts&#8217; expectations for a loss of 7 cents per share.<\/p>\n<p>Product revenue fell to $42.9 million from $58.3 million a year ago, primarily due to lower computing power sales. Mining revenue declined to $19.1 million from $24.3 million, mainly because of lower average <strong>Bitcoin<\/strong> <a target=\"_blank\" href=\"https:\/\/www.benzinga.com\/quote\/BTC-USD\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.benzinga.com\/quote\/BTC-USD\" target=\"_blank\" class=\"ticker-link\" data-ticker=\"BTC\" data-exchange=\"CRYPTO\" rel=\"noopener\">(CRYPTO: BTC\/USD)<\/a> prices, partially offset by higher energized mining computing power.<\/p>\n<h2 class=\"wp-block-heading\">Gross Loss Widens Amid Market Pressure<\/h2>\n<p>Canaan posted a gross loss of $22.9 million for the quarter, compared with a gross profit of $646,000 a year earlier. Net loss widened &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/earnings\/26\/05\/52669651\/bitcoin-miner-canaan-issues-bleak-outlook?utm_source=benzinga_taxonomy&amp;utm_medium=rss_feed_free&amp;utm_content=taxonomy_rss&amp;utm_campaign=channel\" alt=\"Bitcoin\" miner canaan issues bleak outlook>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Canaan Inc. (NASDAQ:CAN) stock fell Tuesday after the cryptocurrency mining hardware company reported mixed first-quarter results and issued second-quarter revenue guidance that came in well below Wall Street expectations. First-Quarter Revenue And Earnings Weaken First-quarter revenue declined to $62.69 million from $82.8 million a year earlier, although it slightly topped analyst estimates of $61.35 million. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-93629","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/93629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=93629"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/93629\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=93629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=93629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=93629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}