HAIDIAN DISTRICT BEIJING , China (AP) — HAIDIAN DISTRICT BEIJING, China (AP) — Canaan Inc. (CAN) on Friday reported a loss of $39.4 million in its first quarter.

The Haidian District Beijing, China-based company said it had a loss of 16 cents per share.

The cryptocurrency-mining computer maker posted revenue of $35.1 million in the period.

For the current quarter ending in June, Canaan said it expects revenue in the range of $70 million.

The company's shares closed at $1.17. A year ago, they were trading at $2.56.

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