Canaan inc. announces strategic realignment

Company to discontinue its non-core ai semiconductor business to sharpen focus on crypto-related businesses singapore , june 23, 2025 /prnewswire/ -- canaan inc. (nasdaq: can) ("canaan" or the "company"), an innovator in crypto mining, today announced that it has commenced a strategic realignment aimed at sharpening its focus on its core businesses of 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, described in the annual report for the year ended december 31, 2024 as "asics for edge computing applications", with the process expected to conclude in the coming months.
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