Canaan Technology announces strategic reorganization to focus on its core business of Bitcoin mining machines

PANews reported on June 24 that Canaan Inc. (NASDAQ: CAN ) announced the launch of a strategic reorganization, focusing on Bitcoin mining machine sales and self-operated mining business, and will terminate non-core AI chip business units. The company said that the move is aimed at streamlining operations, improving capital efficiency, and focusing resources on the core strengths of the digital asset ecosystem. Canaan Inc. expects that overall operating expenses will drop significantly after the reorganization, and will continue to promote encryption infrastructure innovation and global market layout in the future.