According to @StockMKTNewz, bitcoin mining machine manufacturer Canaan (CAN) is shutting down its artificial intelligence (AI) semiconductor business to refocus on its core crypto operations. The company stated the AI unit was not aligned with its long-term strategy, generating minimal revenue while accounting for 15% of operating expenses. This decision comes as Canaan's stock (CAN) has fallen 71% this year. In stark contrast, bitcoin miner Core Scientific (CORZ) is experiencing a stock surge following reports of advanced buyout talks with AI cloud firm CoreWeave. Analysts at Cantor Fitzgerald project CORZ could reach over $30 per share, citing a 12-year, $3.5 billion infrastructure lease with CoreWeave and the replacement value of its data centers. This highlights a strategic pivot discussed by Rittenhouse Research, where crypto companies shift from volatile Bitcoin mining to providing AI infrastructure for more stable, long-term revenue streams. Core Scientific's move is seen as a successful middle path, leveraging its mining footprint to capitalize on the AI boom.

According to @StockMKTNewz, Bitcoin mining machine manufacturer Canaan Inc. (CAN) is winding down its artificial intelligence (AI) chip business to refocus on its core crypto operations. The AI unit, which generated minimal revenue ($900,000) but accounted for 15% of operating expenses, was deemed strategically misaligned. This move comes as Canaan's stock has fallen 71% year-to-date. In contrast, a JPMorgan report highlights that Q1 2025 was one of the best quarters on record for U.S.-listed Bitcoin miners, who collectively earned about $2.0 billion in gross profit. The report noted that IREN (IREN) achieved the highest gross profit and the lowest all-in cash cost per coin at approximately $36,400, while Marathon Digital (MARA) mined the most bitcoin but had the highest cost per coin at around $72,600. JPMorgan maintains an overweight rating on CleanSpark (CLSK), IREN, and Riot Platforms (RIOT), with a neutral rating on Cipher Mining (CIFR) and MARA.