China Net Finance, December 11th (Reporter Zhu Ling) - Jia Nan Technology (NASDAQ: CAN) released its financial report, which showed that Jia Nan Technology's total revenue in the third quarter of 2023 was $33.319 million, a 77% decrease from $146 million in the same period last year; The mining revenue was 3.3 million US dollars, a decrease of 64.6% from 9.2 million US dollars in the same period last year.
"In the third quarter of 2023, the stagnation of Bitcoin prices and further interest rate hikes by the Federal Reserve posed significant challenges to us. Overall, price competition intensified and demand side purchasing power visibly weakened, which posed a serious challenge to our sales," said Zhang Nangong, Chairman and CEO of Jia Nan