Canaan believes that the drop in the company’s revenue will be insignificant

Despite a 70% decline in the crypto market’s capitalization during the year, miner Canaan expects that income, expressed in RMB, will not drop by more than 15%. 

The crisis phenomena seen in the industry do not prevent Canaan from mining. Thus, for the first nine months of this year, the income amounted to 4 billion yuan ($573 million). Moreover, the company plans to get 310 million yuan ($46 million) by the end of 2022. Thus, the annual revenue will reach 4.3 billion yuan ($619 million). Despite the decline in profits, this is only 14% less than the revenue for the previous similar period. 

Source: SEC report

Canaan claims it owes its financial success to the introduction of mining:

We started mining cryptocurrency in 2021, and we planned to use the equipment we produce to generate revenue during the low-demand period. BTC mining is a strong complement to machine sales.

The company indicated that in some cases it is possible to resell the mining equipment, but without disclosing the details.