Canaan Converts Crypto Treasury into Share Buybacks Amid Steady Mining Output

Canaan Inc., a Singapore-based innovator in compute and energy infrastructure, has made significant moves in its cryptocurrency mining operations. In August 2026, the company mined 44 bitcoins while maintaining a non-joint-venture installed hashrate of 10.05 EH/s and a joint-venture installed hashrate of 4.92 EH/s.

The company's global mining footprint reached 13 active projects totaling 14.96 EH/s of installed computing power, including paused operations in Ethiopia that still count toward installed hashrate.

Canaan monetized part of its digital asset treasury by selling its entire holding of 3,952 ETH and 54 BTC for approximately US$13.9 million in cash, then used about US$5.4 million to repurchase 13.6 million American Depositary Shares, bringing total buybacks to roughly 16.4 million ADSs year-to-date.

Management framed this capital allocation as a way to convert crypto holdings into per-share value and signaled confidence in the company's strategy, while also advancing an integrated computing-and-energy platform, including equipment installation at a Canadian compute heat recovery greenhouse ahead of winter.