Canaan Technology announces strategic reorganization to focus on crypto infrastructure and Bitcoin mining

Odaily News According to official news, Canaan Technology announced that it has initiated a strategic reorganization. Its chairman and CEO Zhang Nangeng said that it will focus on the fields of crypto infrastructure and Bitcoin mining, including Bitcoin mining machine sales, self-operated mining business, and consumer-oriented mining products. In addition, Canaan Technology disclosed that the revenue from the sale of edge computing products in fiscal 2024 was approximately US$900,000. The unaudited operating expenses related to this business accounted for approximately 15% of the company's total operating expenses in fiscal 2024.