Canaan Inc. to Repurchase Shares Using Portion of Digital Asset Treasury

Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), an innovator in compute and energy infrastructure, today announced that it has authorized its management to monetize a portion of its digital asset treasury to fund repurchases of its American depositary shares ("ADSs") under the share repurchase program authorized by its board of directors (the "Board") effective December 12, 2025.The Company may fund further repurchases using its digital asset proceeds, depending on the trading price of its ADSs, prevailing market conditions, working capital requirements, and other considerations. Any such action remains subject to Board oversight and to the limits of the existing authorization. This approach reflects Canaan's disciplined capital allocation strategy, balancing active treasury management with its long-term commitment to maintaining a strategic digital asset treasury.Based on its current market capitalization, the Company is trading below the combined value of its digital assets holdings and its cash and cash equivalents as reported on March 31, 2026, the end of its most recently reported quarter. According to its June 2026 monthly production and mining operation updates, the Company held digital assets with an approximate market value of US$130 million based on prevailing market prices as of August 3, 2026. These assets are held in accordance with the Company's treasury and custody policy."This decision reflects our disciplined approach to capital allocation and our commitment to creating long-term shareholder value,'' said Nangeng Zhang, chairman and chief executive officer of Canaan. "Our operations continue to generate bitcoin, providing us with a flexible source of capital that we can deploy selectively and with discipline. At current trading levels, we believe Canaan's market value does not fully reflect the value of our digital asset holdings, cash position, and the strength of our underlying business. Using a portion of our digital asset treasury to repurchase shares therefore represents a compelling allocation of capital and demonstrates our confidence in the Company's long-term prospects.''

Canaan Inc. to Repurchase Shares Using Portion of Digital Asset Treasury

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