According to Wu, Canaan Inc. announced its unaudited financial report for the second quarter of 2025, with total revenue of $100.2 million, a year-on-year increase of 39.5%, exceeding previous expectations; Bitcoin mining revenue hit a record high of $28.1 million, a year-on-year increase of 201.6%, with 284 BTC mined during the quarter; by the end of the quarter, Bitcoin holdings reached 1,483.5 BTC, increasing to 1,511 BTC by the end of July. The company expects third-quarter revenue to be between $125 million and $145 million. The company announced a strategic restructuring, focusing on Bitcoin mining rig sales and self-operated mining business, and has terminated its AI chip business.