Canaan Sells Crypto Holdings to Fund $30M Share Buyback

Canaan Inc., one of the world's largest Bitcoin ASIC chip manufacturers, has been authorized to sell part of its digital asset treasury to fund a $30 million share buyback program. The company's board granted management permission to liquidate a portion of its crypto holdings, which were valued at approximately $130 million as of August 3, 2026.

This move is seen as a strategic trim rather than a fire sale, and the CEO framed it as a reflection of disciplined capital allocation. The company's mining operations continue to generate Bitcoin, providing a source of 'flexible capital,' according to Nangeng Zhang.

The buyback program itself was approved by Canaan's board on December 12, 2025, with authorization running through December 12, 2026. The company holds a record 1,915 BTC and 3,952 ETH as of the end of June 2026.

Canaan's stock jumped between approximately 5.9% and nearly 9% following the announcement, indicating a positive reaction from Wall Street. However, investors should be cautious about the execution timing, market conditions, and tax implications of selling digital assets.