Canaan sells all Ethereum holdings in August to fund $5.4 million stock buyback

ASIC miner manufacturer Canaan (NASDAQ: CAN) released its August 2026 operational report, revealing the sale of its entire Ethereum (ETH) position and a portion of its Bitcoin (BTC) holdings. The company generated approximately $13.9 million in cash, using $5.4 million to repurchase 13.6 million American Depositary Shares (ADS). Canaan mined 44 BTC in August and maintains 10.05 EH/s in non-joint venture hash rate. The company currently holds 1,868 BTC and is preparing to launch a heat-recovery greenhouse project in Canada before the winter heating season.