Canaan shares drop 6.9% as Q4 revenue jumps 121.1% to $196.3M amid Nasdaq delisting risk

On Tuesday, Bitcoin mining rig maker Canaan saw its Nasdaq-listed shares slide 6.87% to $0.56, extending its decline away from the $1 level it must regain by July to avoid a potential delisting. This came even as the firm reported fourth-quarter revenue of $196.3 million, up 121.1% year-on-year, record computing power shipments and a Bitcoin treasury that reached 1,750 BTC alongside 3,950 ETH.