Canaan was one of the earliest ASIC pioneers. Today, as the hardware market becomes more commoditized and you face competitors such as Bitmain and MicroBT, how do you defend your competitive edge?
Everyone can see the competitive landscape of this industry. History is important, of course, but at the end of the day customers look at the product: whether the machine can make money steadily in real environments, whether it creates fewer problems, and whether it can keep running for a long time.
Canaan has gone through many cycles in this industry. When the market is good, the industry is very exciting. When the market is bad, it can be very harsh. The reason we have survived all these years and are still launching new products is actually simple: we have kept our attention on the product itself. A mining machine is not a PowerPoint product, and it is not a product that can be judged only by launch-event specifications. It has to run in mining sites, in homes, and under many
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