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Bitcoin mining machine maker Canaan reports $5.6 million net loss in Q1 of 2020.

The Chinese company Canaan cut prices of its ASIC-based bitcoin mining machines by nearly 50% to improve sales, but it wasn’t enough to prevent the heavy loss. The demand for bitcoin mining rigs slumped as the coronavirus pandemic disrupted the movement of goods worldwide, which also took a toll on the bitcoin mining rig manufacturer […]

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