Canaan liquidates Ethereum holdings while maintaining Bitcoin reserve

Canaan sold its entire position of 3,952 ETH and 54 BTC in late August for approximately $13.9 million. The company utilized $5.4 million of the proceeds to repurchase 13.6 million of its Nasdaq-listed shares. As of August 31, Canaan retains 1,868 BTC, reaffirming its commitment to a strategic digital asset reserve despite the divestment of its Ethereum holdings.