Singapore – September 17, 2026 -- Canaan Inc. (NASDAQ: CAN) liquidated its entire Ethereum position and part of its bitcoin treasury in August 2026, generating approximately US$13.9 million in cash that funded the repurchase of 13.6 million American Depositary Shares.
Canaan exits ETH position entirely, trims BTC holdings to fund buybacks
The company sold all 3,952 ETH it held along with 54 BTC at average prices of roughly US$2,400 per ETH and US$79,000 per BTC. Canaan deployed US$5.4 million of the proceeds to repurchase the ADSs in late August, lifting total shares repurchased since the start of the year to approximately 16.4 million. At month-end, Canaan held 1,868 BTC.
Mining output holds steady as hashrate expansion continues via joint venture
Canaan mined 44 BTC in August while maintaining non-joint-venture installed hashrate at 10.05 EH/s. Hashrate tied to its joint venture reached 4.92 EH/s by month-end, continuing its expansion trajectory.
Board-authorized buyback program uses treasury monetization to close valuation gap
On August 4, 2026, Canaan authorized management to monetize part of its digital asset treasury specifically to fund ADS repurchases under a share buyback program the board approved on December 12, 2025. Chairman and CEO Nangeng Zhang said the move reflects management's view that current market value does not fully capture the company's underlying assets and operating performance.
Canada heat-recovery project moves to equipment installation ahead of winter
At Canaan's compute heat recovery greenhouse project in Canada, mining equipment has arrived on site and installation is underway ahead of the winter heating season, advancing the company's integrated computing-and-energy platform strategy.