Canaan Sells Crypto to Fund $30M Stock Buyback
Canaan Inc., a leading manufacturer of Bitcoin ASIC chips, has received authorization to sell part of its digital asset treasury to fund a $30 million stock buyback program.
The company's board approved the buyback plan on December 12, 2025, with an expiration date of December 12, 2026. However, it wasn't until August 4 that management was given explicit permission to use some of its crypto stash to fund repurchases.
Canaan's digital asset holdings were valued at approximately $130 million as of August 3, 2026. A portion of this will be liquidated to support the buyback program, which represents a strategic trim rather than a fire sale.
The company's CEO, Nangeng Zhang, framed the move as a reflection of disciplined capital allocation and expressed confidence in Canaan's long-term prospects. He noted that the company's mining operations continue to generate Bitcoin, providing a source of 'flexible capital'.