Bitcoin mining-specific integrated circuit (ASIC) manufacturer Canaan has completed a pilot production in the United States and has abandoned its AI hardware manufacturing business.
In a statement sent to Cointelegraph on Monday, a representative from Canaan stated that the company "has successfully completed a pilot production in the United States," replicating its operational model in Malaysia. Canaan also announced the cessation of its AI semiconductor business, describing it as a "strategic adjustment aimed at focusing more on its core business."
Canaan's Chairman and CEO Nangeng Zhang stated, "I believe that doubling down on our core strengths in crypto infrastructure and Bitcoin mining is the most strategic path forward for Canaan."
A Canaan representative acknowledged that production costs in the United States are higher but indicated that the company views this initiative not only as a hedge against tariffs but also as a potential strategic investment for long-term resilience.
The company added that producing close to the North American market will help improve delivery cycles, respond more quickly to local demand, and address future geopolitical or regulatory changes.
Recent reports have indicated that Bitmain, Canaan, and MicroBT—three companies that together produce most of the world's Bitcoin mining ASICs—are shifting production to the United States.
A representative from Canaan pointed out that producing Bitcoin mining ASICs in the United States is part of a long-term effort, not just a response to tariffs:
The representative noted that products manufactured in Malaysia currently incur a 10% tariff. As for imported components and raw materials, the tariff situation is less clear, making cost planning difficult.
Therefore, Canaan's expansion in the United States "will ultimately depend on achieving commercial viability through a combination of cost management, customer demand, and clarity in the tariff environment."
The company responded to potential concerns regarding U.S. national security standards, emphasizing that its equipment shipped to the United States is produced in Malaysia and certified by local authorities. The representative added:
These comments were made after the U.S. Customs and Border Protection suspended the delivery of thousands of Bitmain ASICs in November 2024, following an investigation by U.S. authorities into the alleged business relationship between Chinese chip designer Xiamen Sophgo and the U.S.-sanctioned telecom company Huawei. These devices were only recently released.
Related: Trump Media & Technology Group states that the $400 million stock buyback plan will not affect the Bitcoin (BTC) treasury plan.
Original article: “Bitcoin ASIC producer Canaan launches pilot production in the U.S. and exits AI business”
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