Bitcoin ASIC producer Canaan pilots US production, exits AI business

Bitcoin ASIC maker Canaan has launched pilot production in the US and dropped its AI chip business, signaling a strategic pivot to core crypto operations.

Bitcoin mining application-specific integrated circuit (ASIC) manufacturer Canaan has completed a pilot production run in the US and abandoned its AI hardware manufacturing efforts.

In a statement sent to Cointelegraph on Monday, a Canaan representative said it “has successfully completed a pilot production run in the US,” replicating its Malaysia-based operations. Canaan also announced the discontinuation of its AI semiconductor business in what it said is “a strategic realignment aimed at sharpening its focus.”

“I believe that doubling down on our core strengths in crypto infrastructure and Bitcoin mining is the most strategic path forward for Canaan,” said Nangeng Zhang, chairman and CEO of Canaan.

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