Wu learned that Canaan Creative (NASDAQ: CAN), a Bitcoin mining machine manufacturer, released its unaudited third-quarter financial report on November 10th. Revenue was $14.54 million, a year-on-year decrease of approximately 90.3%, with mining machine sales revenue at $4.82 million and mining revenue at $9.47 million. The company achieved a net profit of $7.96 million, but still incurred an operating loss of $42.88 million. Changes in the fair value of crypto assets and financial derivatives during the quarter brought in approximately $51.94 million in non-cash gains. The company mined 133 BTC in the third quarter and held approximately 1,875 BTC as of the end of September. Canaan Creative also disclosed that it is advancing two 1 GW power resource projects in Texas, USA, and announced a stock buyback program of up to $20 million. https://(wublock123.com)/news/canaan-tech-q3-revenue-down-90-net-profit-8m-valuation-gains-71683