Canaan makes Bitcoin mining machines. Its machine sales:
Q3 2025: $118.6M
Q3 2026: $4.8M
Its own mining now earns twice that. Its reason: “weaker overall market demand.”
In September, its VP on the halvings after 2028: “I hope I’m wrong.” https://t.co/KJELKfxFqp
Paul Sztorc says merged mining is the only practical answer to Bitcoin's security budget.
He's right that miners need money from outside Bitcoin. The harder question is the coin that pays them.
Where does its supply come from? https://t.co/BL2iDYDeED