Rebeca Moen
Could 29, 2025 03:24
Canaan Inc. proclaims a $30 million share buyback program, reflecting confidence in its strategic path regardless of market volatility and new U.S. tariffs, in line with a latest assertion.
Canaan Inc. (NASDAQ: CAN), a number one firm in crypto mining expertise, has introduced a major share repurchase program valued at as much as $30 million. This transfer, in line with Canaan Inc., highlights the corporate’s strategic efforts to reinforce shareholder worth amidst the present financial local weather.
Particulars of the Repurchase Program
The board of administrators at Canaan has greenlit this formidable repurchase initiative, which is about to span over six months beginning Could 27, 2025. This system permits the corporate to purchase again its American depositary shares (ADSs), every representing 15 Class A atypical shares, and/or the Class A atypical shares themselves. These transactions will happen by way of open market operations, privately negotiated offers, or block trades, adhering to the Securities Alternate Act of 1934 and Canaan’s insider buying and selling coverage.
Strategic Rationale Behind the Buyback
Nangeng Zhang, Canaan’s chairman and CEO, emphasised the undervaluation of the corporate’s shares as a consequence of latest market circumstances, together with macroeconomic volatility and new tariffs imposed by the U.S. authorities. Zhang said, “Our resolution to provoke this share repurchase program is a proactive step to guard shareholder worth whereas demonstrating our confidence within the Firm’s strategic path.” Regardless of these challenges, Canaan stays dedicated to its strategic plan, specializing in technological innovation and getting ready for a restoration within the bitcoin mining sector.
Repurchase Program Execution
The execution of this repurchase program will depend upon varied components akin to inventory worth, buying and selling quantity, and market circumstances. Canaan plans to fund these repurchases utilizing its current money reserves, and this system shall be periodically reviewed by the corporate’s board and administration to regulate its phrases and scope as essential.
Firm Background
Based in 2013, Canaan Inc. is famend for its experience in ASIC high-performance computing chip design and manufacturing, notably inside the cryptocurrency mining business. The corporate made historical past by introducing the primary ASIC-based bitcoin mining machines underneath the Avalon model. In 2019, Canaan went public on the Nasdaq International Market, marking a major milestone in its company journey.
For additional particulars, the official announcement might be accessed on [Canaan Inc.](https://www.prnewswire.com/news-releases/canaan-inc-announces-up-to-us30-million-share-repurchase-program-302465547.html).
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