Canaan, a Nasdaq-listed bitcoin mining machine manufacturer, saw a slight uptick in its business in the first quarter of 2020 after a disappointing performance in 2019. In a quarterly filing with the Securities and Exchange Commission (SEC), the Hangzhou, China-based company reported a total net loss of $5.6 million in Q1. The number is 41% lower compared to Q1 2019. Canaan's total revenues in Q1 contracted significantly, sliding from $66.5 million in the previous quarter to $9.6 million this quarter. The company seems to have compensated for the revenue decline with a better profit margin. In Q4 last year, Canaan ... (full story)