At a time when other bitcoin miners are pivoting to AI, Canaan is doubling down on bitcoin. Get your tickets to OPNEXT 2026 before prices increase! Join us on April 16 in NYC for technical discussions, investor talks, and intimate conversation with the brightest minds in Bitcoin. Welcome back to The Blockspace Podcast! Today, Liang Wang, VP of Canaan, joins us to talk about how Canaan is approaching the changing tides in bitcoin mining as peers pivot to AI. We dive into their recent acquisition of Texas mining sites from Cipher Mining, their 60.9% year-over-year sales growth for their Avalon ASIC miner series, and the economics of mining in the current market. Liang also shares insights into China's regulatory landscape, the potential of stranded energy in North America, and how AI is impacting ASIC miner market dynamics. Subscribe to the newsletter! https://newsletter.blockspacemedia.com Notes: * 60.9% YoY growth in ASIC equipment sales. * Sold 14.6 EH/s of new equipment in Q4. * Acquired 49% equity in three Texas sites. * Texas power rates below $0.03 per kWh. * Zero self-mining exposure in China. * Bitcoin price at $65,000–$70,000 range. Timestamps: 00:00 Start 04:23 Cipher acquisition 08:57 Behind the meter & asset heavy 13:08 Stranded energy & hashrate growth 16:16 ASIC sales are up? 22:46 China update 28:09 New markets by country 33:10 2 nanometer chips? 38:58 Chip making demand for AI & others 46:58 The "AI pivot" impact? 👉CleanSpark CleanSpark (Nasdaq: CLSK) is a market-leading data center developer with a proven track record of success. We own a portfolio of power, land, and data centers across the United States powered by globally competitive energy prices. Sitting at the intersection of Bitcoin, energy, operational excellence and capital stewardship, we optimize our infrastructure to deliver superior returns to our shareholders. Monetizing low-cost, high reliability energy by producing a global emerging critical resource – compute – positions us to prosper in an ever-changing world. 👉Luxor, Blockspace's preferred mining pool Bitcoin mining revenue changes every day. Difficulty adjusts. Fees move. Prices shift. And that makes it hard to plan. Luxor Pool’s Fixed Payouts let miners lock in revenue at a guaranteed daily rate for up to 18 months. According to Hashrate Index, miners who used rolling fixed payout strategies since the last halving have outperformed FPPS mining by up to 15 percent. Fixed Payouts give you predictable daily revenue, so you can plan, budget, and grow with confidence. With Luxor, uncertainty is optional. Learn more at luxor.tech/mining