Canaan reports $33M net loss for 2020 despite bullish Bitcoin price action

Bitcoin’s bullish 2020 closeout was not enough to prevent Canaan from incurring a net loss in 2020.

According to the company’s unaudited financial report for Q4 2020, the (BTC) miner maker’s net loss for 2020 was about $33 million. However, Canaan’s 2020 net loss is significantly lower than the $148 million recorded in 2019.