Canaan Revenue Plunges 68% as Bitcoin Treasury Hits Record 1,807 BTC

As of May 22, latest coverage reframes Canaan's weak Q1 results around its growing crypto treasury now valued near $148 million. The story began May 19 when Canaan reported $62.7 million revenue and an $88.7 million net loss, triggering a 13% share drop to $0.418. Subsequent reports highlighted operational gains including 257 BTC mined and hashrate expansion to 11 EH/s, while guiding Q2 revenue at just $35-45 million. The narrative has shifted to emphasize the company's pivot toward AI infrastructure and its expanding $148 million BTC and ETH holdings amid ongoing hardware weakness.