Here’s Why Crypto Mining Company Canaan Dropped Again Today, This Time by 12%

A marketwide sell-off in the crypto sector is hitting various tokens and companies differently. Canaan is among the hardest hit today.

As of 2:15 p.m. ET, crypto mining equipment maker Canaan (CAN 14.62%) is once again on the decline, down 12% from yesterday’s close. In the broader crypto mining-related sector, Canaan is among the largest decliners since yesterday’s close, and this move now brings the company to a one-year decline.

Canaan Stock Quote

Today’s Change

(-14.62%) $-0.19

Current Price

$1.11

Notably, this move also pushes CAN stock toward penny stock territory once gain, with the company’s stock price currently hovering…

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