Canaan authorized to sell part of digital asset treasury for $30M buyback

Canaan Inc., one of the largest Bitcoin ASIC chip manufacturers in the world, just told shareholders it’s willing to sell some of its crypto stash to buy back its own stock. The company’s board has given management the green light to liquidate a portion of its digital asset treasury to fund repurchases under a $30 million buyback program. The company’s digital asset holdings were valued at approximately $130 million as of August 3, 2026. A $30 million buyback against a $130 million treasury is less a fire sale and more a strategic trim. What Canaan is actually doing The buyback program itself isn’t new. Canaan’s board originally approved it back on December 12, 2025, with authorization running through December 12, 2026. What changed on August 4 is that management now has explicit permission to fund those repurchases by selling crypto from the company’s balance sheet. As of the end of June 2026, Canaan held a record 1,915 BTC and 3,952 ETH. CEO Nangeng Zhang framed the move as a reflection of disciplined capital allocation, noting that it expresses confidence in the company’s long-term prospects. He pointed out that Canaan’s mining operations continue to generate Bitcoin, which prov...