Bitcoin Miner Canaan Issues Bleak Outlook

Canaan Inc. (NASDAQ:CAN) stock fell Tuesday after the cryptocurrency mining hardware company reported mixed first-quarter results and issued second-quarter revenue guidance that came in well below Wall Street expectations. First-Quarter Revenue And Earnings Weaken First-quarter revenue declined to $62.69 million from $82.8 million a year earlier, although it slightly topped analyst estimates of $61.35 million.