Supercomputing options firm Canaan (CAN), which makes a speciality of bitcoin mining {hardware}, stated income surged 237% from the year-earlier quarter to $213.9 million.
The one analyst cited on Yahoo Finance had forecast $27.37 million.
Internet earnings on the Beijing-based firm climbed to $69.7 million or 50 cents a share, in contrast with the analyst’s estimate of 6 cents.
“Trying forward, whereas we’re cognizant of the near-term headwinds, we’re assured that our intensive expertise, more and more globalized operations, and execution capabilities put us in a strong place to navigate the present interval of uncertainty,” stated CEO Nangeng Zhang.
The corporate held 166.96 bitcoins on its stability sheet as of March 31.
Shares of the corporate rose about 11% to $3.14 in premarket buying and selling.
