Canaan Inc. announced on June 23, 2025, a strategic realignment to sharpen its focus on core businesses: Bitcoin mining machine sales, self-mining operations, and consumer mining products. As part of this initiative, the company will discontinue its non-core AI semiconductor business unit, which was described as 'ASICs for edge computing applications' in its 2024 annual report.
The process of discontinuing the AI semiconductor business unit is expected to conclude in the coming months. This decision aims to streamline operations, enhance capital efficiency, and reduce expenditures unrelated to its primary business lines.
In fiscal year 2024, the AI semiconductor business unit generated approximately US$0.9 million in revenue, with related unaudited operating expenses accounting for around 15% of the company's total operating expenses. Canaan expects a significant decline in operating expenses after the full discontinuation of this unit, allowing reallocation of resources towards its foundational strengths in the digital asset ecosystem.
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