Bitcoin mining company canaanio reported revenue and net income growth in the first quarter. Reporting by oknightcrypto.
had forecast $27.37 million.
Net income at the Beijing-based company climbed to $69.7 million or 50 cents a share, compared with the analyst's estimate of 6 cents. "Looking ahead, while we are cognizant of the near-term headwinds, we are confident that our extensive experience, increasingly globalized operations, and execution capabilities put us in a solid position to navigate the current period of uncertainty," said CEO Nangeng Zhang.Shares of the company rose about 11% to $3.14 in premarket trading.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Despite Criminalizing Mining, Abkhazia Uncovers Another Crypto Farm – Mining Bitcoin NewsEven after introducing fines and criminal liability for crypto mining, Abkhazia continues to find facilities for digital currency extraction.
Read more »
Study: Amid Mining Bans, China Still Commands World's Second-Largest Share of Bitcoin Hashrate – Mining Bitcoin NewsNew data indicates that China still holds the second largest position in terms of Bitcoin's global hashrate.
Read more »
Salt Lake County mining ban draws lawsuit from Parleys quarry developersWhile the central Wasatch has a storied mining legacy, county leaders, joined by officials from Salt Lake City and Millcreek, said mineral extraction is no longer compatible with the needs of residents, who rely on these mountains for water and recreation.
Read more »
Bitcoin mining stock report: Tuesday, May 17Here is a look at how crypto mining companies did in the markets on Tuesday, May 17.
Read more »
US Solidifies Its Status as Biggest Bitcoin Mining HubUS reigns supreme in Bitcoin mining, but China has suddenly made an unlikely resurgence
Read more »
China Puts Itself Back on the Bitcoin Mining Map | CoinMarketCapGuess who's back 👀 China has 21% of the global Bitcoin hash rate, despite the mining ban 🇨🇳 This puts the country behind the United States (34.7%) 🇺🇸 and ahead of Kazakhstan (13.2%) 🇰🇿
Read more »