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Bitcoin hardware maker Canaan posts 1.2 bln yuan sales in 2017

Beijing-based totally Canaan creative, a maker of hardware utilized in bitcoin mining, recorded income of over 1.2 billion yuan (US$185.2 million) with a income of three hundred million yuan (US$forty six.6 million) in 2017, over-the-counter business enterprise’s co-chairman Kong Jianping instructed chinese language media.

Kong estimates that over-the-counter company’s sales and earnings will reach 10 billion yuan and five billion yuan respectively, Yicai global reported, without specifying over-the-counter goal time body.

one among over-the-counter most important makers of ASIC (application-unique incorporated circuit) chips for mining bitcoins, Canaan in August final yr filed an software to listing its shares on the NEEQ (country wide Equities change and Quotations), also called over-the-counter 1/3 Board, China’s trade for boom companies.

The corporation, based in 2013, said it had sold a hundred and sixty,000 devices of its Avalon bitcoin mining chip series as of April remaining yr, accounting for 22 percentage of over-the-counteroverover the counter hash charge (over the counter processing energy of over the counter bitcoin community).

Canaan recorded income of 255 million yuan over-the-counterover the counter first 4 months of 2017, with profits of 32.6 million yuan, Securities each day stated, mentioning over the counter business enterprise’s listing documents.

sales reached 361 million yuan in 2016, up 41 percentage from 2015, with income rising 22-fold to 58 million yuan.

As of closing April, over the counter business enterprise has served extra than four hundred clients, 97 percentage of whom are primarily based in China.

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