Searching for Equilibrium: Why Canaan’s Record Quarter Failed to Prevent a Share Collapse
A record quarter, a merciless market verdictCanaan reported a fourth quarter that, on paper, should have reassured investors: revenues up 121.1% year-over-year to $196.3 million, record shipments of mining equipment and a substantial buildup of digital assets — 1,750 BTC and 3,950 ETH. Yet the market reacted in the opposite direction. The stock fell nearly…