Canaan to Sell Digital Assets for $30 Million Share Buyback
Prefer us on GoogleCanaan has decided to sell part of its digital assets to fund a share buyback of its American Depositary Shares (ADS). According to an announcement on August 4, the management has approved the liquidation of some digital assets to finance the ADS buyback. This buyback is part of a program approved on December 17, 2025, with a maximum size of $30 million, and the program period runs from December 12, 2025, for 12 months. Canaan explained that the decision for additional purchases would depend on the ADS trading price, market conditions, working capital needs, board oversight, and existing approval limits. As of August 3, Canaan's digital asset market value was approximately $130 million, with holdings of 1,915 BTC and 3,952 ETH as of the end of June. Canaan reported a revenue of $62.7 million and a net loss of $88.7 million for the first quarter, with cash totaling $43.5 million and Bitcoin holdings of 1,871 BTC as of March 31. Canaan's stock price has risen 24% since August 1.
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