Canaan Technology cuts AI business to focus fully on Bitcoin mining rigs and mining.

[Coin World] The listed mining rig manufacturer Canaan Creative has announced that it will cease its non-core AI semiconductor business to focus on core encryption-related businesses such as Bitcoin mining rig sales, self-mining, and consumer mining products. Canaan stated that this adjustment aims to streamline operations, improve capital efficiency, and reduce non-core expenditures. In fiscal year 2024, the revenue from the AI business was only about $900,000, yet it accounted for approximately 15% of operating expenses.

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ExpectationFarmervip
· 06-23 14:27
Struggled with 900,000, burned so much.
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FadCatchervip
· 06-23 14:27
Finally figured it out hh
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AirdropHarvestervip
· 06-23 14:00
Losing 900,000 is too outrageous.
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