Canaan Announces Strategic Restructuring to Focus on Crypto Infrastructure and Bitcoin Mining

According to official sources reported by Jinse Finance, Canaan Inc. has announced the initiation of a strategic restructuring. Chairman and CEO Nangeng Zhang stated that the company will focus on crypto infrastructure and Bitcoin mining, including Bitcoin miner sales, proprietary mining operations, and consumer-oriented mining products. In addition, Canaan disclosed that revenue from the sale of edge computing products for fiscal year 2024 was approximately $900,000. The unaudited operating expenses related to this business accounted for about 15% of the company’s total operating expenses for fiscal year 2024.