Canaan Inc., one of the world’s largest Bitcoin ASIC chip manufacturers, has received board authorization to sell part of its digital asset treasury to fund a $30 million share buyback program. As of the end of June 2026, the company held approximately 1,915 BTC and 3,952 ETH, with total digital asset holdings valued at around $130 million. Canaan’s stock jumped between 5.9% and nearly 9% following the announcement. CEO Nangeng Zhang framed the move as disciplined capital allocation, noting that the company’s mining operations continue to generate Bitcoin, which provides what he called a source of flexible capital.
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