Canaan Inc. Declares US$30 Million Plan for Buying Back Their Own Shares
**Canaan Inc. Announces Share Repurchase Program Worth Up to $30 Million**
Canaan Inc., a prominent technology company specialising in ASIC high-performance computing chip design, has announced a share repurchase program worth up to $30 million. The program, set to commence on May 27, 2025, aims to enhance shareholder value by reducing the number of outstanding shares.
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The repurchase program will include both American depositary shares (ADSs) and Class A ordinary shares. The company plans to fund the repurchases using its existing cash balance. Canaan Inc. emphasised that it will comply with the Securities Exchange Act of 1934 and its insider trading policy during the repurchases.
The share repurchases will be made at prevailing market prices, through open market transactions, privately negotiated transactions, block trades, or any combination thereof. The specific details about the timing and the number of shares to be repurchased have not been disclosed, as they will depend on various factors.
Nangeng Zhang, chairman and CEO of Canaan, stated that the shares are undervalued. ICR, LLC. is the contact for media inquiries, with Robin Yang as the point of contact, reachable at +1 (347) 396-3281 or [email protected]. Canaan Inc.'s Investor Relations Contact is Xi Zhang, who can be reached at [email protected].
Canaan Inc. has been actively adapting its strategies to navigate the current market and regulatory environment. The company has recently secured a significant purchase agreement with Cipher Mining to supply 6,840 Avalon A15Pro miners in the third quarter of 2025. This deal marks a strategic shift towards domestic manufacturing, with production to be fulfilled by both U.S. and Malaysian facilities.
Amid looming U.S. tariffs on China- and Malaysia-origin computing devices, Canaan is leveraging its U.S. manufacturing capacity to mitigate these risks. The company acknowledged a 10% tariff hike on Malaysia-made miners in a recent production update.
As Bitcoin prices reach new highs, Canaan is experiencing increased demand from its global customers. The company emphasises rapid deployment, return on investment, and reliability as key priorities in its supply chain strategies. This focus aligns with the growing momentum in the cryptocurrency market and the need for adaptive logistics.
Canaan's expansion into U.S. manufacturing underscores a broader industry trend. The company is building a strong reputation and expanding its market presence by leveraging both U.S. and international manufacturing capabilities. This approach is crucial in maintaining competitive advantages and meeting the growing demand for reliable and efficient mining solutions.
Canaan Inc. completed its initial public offering on the Nasdaq Global Market in 2019. The press release ends with "Author Cision PR Newswire" and "View all posts Press release Cision PR Newswire Send an email."
Canaan Inc. will comply with the Securities Exchange Act of 1934 and its insider trading policy during the share repurchase program, following the company's announcement to purchase up to $30 million worth of both American depositary shares (ADSs) and Class A ordinary shares. The repurchases will be funded using Canaan Inc.'s existing cash balance, with the performance of the company's business in the finance sector being a key factor to monitor. The technology industry welcomes this news as it signifies Canaan Inc.'s commitment to maintaining and improving their market presence, reinforcing the need for innovative cloud solutions in the current rapidly growing cryptocurrency market.
