Canaan Completes US ASIC Pilot, Exits AI Chip Business
Summary
Canaan has completed a pilot production run of Bitcoin mining ASICs in the US and has ceased its AI hardware manufacturing. This strategic realignment aims to focus on crypto infrastructure and Bitcoin mining. Despite higher production costs in the US, Canaan views this move as a long-term investment for resilience, improving delivery cycles and responsiveness to local demand. The company is optimizing its US cost structure to manage expenses amid tariff uncertainties, particularly a 10% tariff on products from Malaysia. Canaan emphasizes compliance with US national security standards for its devices and plans to align future operations with evolving regulations.
