TechFlow news, June 24 — According to Canaan's official account, NASDAQ-listed Canaan Inc. (CAN) announced on June 23, 2025, the initiation of a strategic restructuring, terminating its non-core AI chip business unit and focusing on core operations including Bitcoin mining machine sales, self-operated mining, and consumer-facing mining products. The company stated that this move aims to streamline operations, enhance capital efficiency, and reduce non-core expenditures. It is reported that the AI chip business contributed only approximately $900,000 in revenue during the fiscal year 2024, with related operating expenses accounting for about 15% of total expenses. Zhang Nangeng, Chairman and CEO of Canaan Inc., said that concentrating on the company's core strengths in cryptocurrency infrastructure and Bitcoin mining represents the most prudent strategic direction, driving sustainable growth and unlocking long-term shareholder value.
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