PANews reported on August 14th that, according to PRNewswire, Canaan Inc. (Canaan Inc.) announced its unaudited financial results for the second quarter of 2025, showing total revenue of US$100.2 million, a year-on-year increase of 39.5%. Bitcoin mining revenue reached US$28.1 million, a year-on-year increase of 201.6%. Bitcoin reserves rose to 1,483.5 at the end of the quarter and further increased to 1,511 at the end of July. The company announced a strategic restructuring to focus on Bitcoin mining machine sales and its own mining business, and has terminated its AI chip business. Management recently increased its holdings of the company's ADSs, and the board of directors approved a repurchase plan of up to US$30 million.