Canaan Expands to US, Drops AI Business to Focus on Bitcoin Mining

Bitcoin ASIC manufacturer Canaan has launched pilot production in the US and exited its AI chip division. The move reflects a strategic shift toward core crypto infrastructure and local market resilience.

Canaan to Focus on Bitcoin Mining and Crypto Infrastructure

Canaan, a major supplier of Bitcoin mining ASICs, has announced pilot production in the United States. At the same time, it is discontinuing its artificial intelligence chip business as part of a strategic realignment.

Company CEO Nangeng Zhang stated that doubling down on crypto infrastructure is the most effective long-term strategy. The move signals a pivot away from secondary markets to strengthen its Bitcoin mining focus.

US Production Viewed as a Long-Term Investment

According to a Canaan representative, manufacturing in the US is more expensive than in Malaysia. However, the initiative is seen not only as protection against tariffs but also as a long-term investment in resilience.

Producing closer to the North American market is expected to shorten delivery times and help navigate regulatory or geopolitical uncertainties. Currently, Malaysia-produced chips are subject to a 10% tariff.

The company is working on cost optimization in the US and awaits tariff clarity to evaluate commercial viability.

Canaan Emphasizes Compliance With US Tech Standards

Addressing national security concerns, Canaan clarified that all products shipped to the US are made in Malaysia and certified by local authorities.

Should US production expand, Canaan pledges to align operations with American technology and security standards. The statement comes after US customs halted Bitmain shipments in late 2024 due to an investigation linked to Chinese firm Huawei.