PANews August 14 news, according to PRNewswire, Canaan Inc. announced its unaudited financial report for the second quarter of 2025, with total revenue reaching $100.2 million, a year-on-year increase of 39.5%. Bitcoin mining revenue reached $28.1 million, a year-on-year increase of 201.6%. At the end of the quarter, Bitcoin reserves rose to 1,483.5 coins, further increasing to 1,511 coins by the end of July. The company announced a strategic restructuring, focusing on Bitcoin mining machine sales and self-operated mining business, and has terminated its AI chip business. Management has recently increased its holdings of the company's ADS, and the board approved a maximum $30 million buyback plan.