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Posted by
Two Blokes May 27, 2025 -
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Stock
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SINGAPORE , May 27, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced that its board of directors (the "Board") has authorized a share repurchase program under which the Company may repurchase up to US$30 million worth of its outstanding (i) American depositary shares ("ADSs"), each representing 15 Class A ordinary shares, and/or (ii) Class A ordinary shares, over the next six months starting from May 27, 2025. Nangeng Zhang, chairman and chief executive officer of Canaan, commented, "In light of the recent market conditions, we believe that our shares are trading at levels that materially undervalue the strength of our business model and long-term growth potential.
