BGRIMM Technology: Trading Range Stabilization and Steadily Rising Performance

【Answer 1】 Original article by Zizi Financial Research, Zizi Financial Research, published in Guizhou on December 24, 2023, at 21:23. Today’s featured company is BGRIMM Technology. Its stock price has been consolidating within a trading range, gradually stabilizing and rebounding. Moreover, its financial performance has been solid—making it worthy of investors’ attention going forward. Let’s take a closer look at the company’s profile. I. Core Business Activities The company primarily engages in electromechanical products and magnetic materials. 1. Electromechanical Products: Its business scope covers flotation equipment, magnetic separation equipment, grinding equipment, agitating tanks, auxiliary mineral processing equipment, automatic zinc-stripping units, metallurgical leaching tanks, environmental protection equipment, as well as related automatic control systems, technical consulting, technical services, and engineering contracting. 2. Magnetic Materials: The company focuses on R&D, manufacturing, sales, and integrated services for magnetic materials and components. Its magnetic material product portfolio includes sintered permanent ferrite, bonded permanent ferrite, injection-molding granules, magnetic recording media, rare-earth permanent magnets, and permanent magnet components. These products serve traditional and emerging sectors such as electronics, computing, information & communications, healthcare, aerospace, automotive, wind power, and energy-efficient environmental protection.

Canaan Q3 Earnings Commentary

【Answer 2】 Upon release of Canaan’s Q3 earnings report, my first impression was that the company’s business recovery is running half a step ahead of market sentiment—unexpectedly, its stock price rebounded sharply. This may partly reflect technical support at key moving averages, as well as growing investor interest recently. Total revenue reached USD 150.5 million—slightly above management’s guidance range of USD 125–145 million. It rose 50.2% quarter-on-quarter and doubled year-on-year—a momentum rarely seen during mining hardware cycles. More importantly, management projected Q4 revenue between USD 175–205 million—described by the CFO as “cautiously optimistic.” 1. Mining Hardware Business: Volume and Price Both Rise Product revenue totaled USD 118.6 million—the first time in three years that quarterly mining hardware sales have exceeded USD 100 million. Key highlights: • Hashrate delivery reached 10 EH/s (a quarterly record); • Average selling price (ASP) stood at USD 11.8 per TH—up one-third year-on-year; • North American customers contributed 31% of revenue, indicating faster-than-expected demand recovery. Traditionally cautious about disclosing customer names to protect confidentiality, Canaan explicitly named four clients this quarter: Bitfury, Cipher, CleanSpark, and Luxor—all core players in on-chain hashrate. The large U.S. order for 50,000 A15 Pro units placed in early October has already entered delivery; full delivery is scheduled for end-2025. Currently, mining hardware manufacturers face no supply constraints, pricing power remains strong, and sales volumes are robust—implying solid product competitiveness and renewed procurement momentum from major clients. 2. Consumer-Series Products: A Segment Worth Monitoring Separately Consumer-series revenue hit USD 12.2 million—up 115% quarter-on-quarter—and accounted for 10.3% of total product revenue (the first time exceeding 10%). With a gross margin of 33%, this segment generated USD 4 million in gross profit—20% of total product gross profit. During the earnings call, management stated: “By 2026, the KPI for our consumer series won’t be unit volume—but mainstream adoption.” I personally hold a positive outlook on the consumer-use case. In northern China, winter heating is a mandatory expense with relatively high costs. Switching to consumer models—for example, the Avalon Q—generates approximately USD 300 in annualized mining revenue (per Mining NOW’s calculation, assuming USD 0.07/kWh electricity cost, roughly equivalent to RMB 0.5/kWh domestically), enabling payback in 3–5 years. By adopting a consumer-electronics logic, this business line enjoys significantly higher gross margins than industrial mining hardware—making it worth long-term tracking. Management revealed internal resource allocation between “consumer” and “industrial” chip lines remains subject to ongoing internal debate; product iteration follows an annual cycle. 3. In-House Mining Operations: Hashrate Reaches 9.3 EH/s In-house mining operations continued setting new records: revenue reached USD 30.6 million (a new high), quarterly BTC output totaled 267 BTC (+82% YoY), and total deployed hashrate reached 9.3 EH/s—including 4.4 EH/s in the U.S. Regarding cryptocurrency holdings: 1,582 BTC and 2,830 ETH. In early November, the company purchased an additional 100 BTC—clearly reflecting a “firm floor at USD 100,000 per BTC” strategy. On electricity costs: The average power price across Canaan’s in-house mining farms remains low, aided by strategic use of marginal gas, surplus grid power, and hydropower—resulting in an overall cost structure that is quite competitive.

Minerals Technologies Inc. (MNK) Q3 2024 Earnings Report - Results, Call & Slides

Sep 24, 2026

Minerals Technologies Inc. reported Q3 2024 earnings with an EPS of €1.32, beating consensus, but revenue missed expectations at €458.70M, down 4.22% YoY. The announcement was made on October 24, 2024.

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