Leading mining chip company launches a $30 million buyback plan, what kind of signal does it send?

【Chain Wen】Global leading cryptocurrency mining ASIC chip manufacturer Canaan Inc.(NASDAQ: CAN) has just announced a new stock repurchase plan — over the next 12 months, repurchasing ADS or Class A common shares for no more than $30 million, with funds coming from the company’s existing cash reserves.

According to the announcement, the repurchase can be carried out through flexible methods such as open market purchases, private placements, or block trades, all in compliance with the U.S. Securities Exchange Act of 1934 and the company’s internal trading policies. This means that the specifics of how much to buy, when to buy, and how to execute will be dynamically adjusted based on stock price, trading volume, and overall market conditions.

It is worth noting that Canaan previously executed a six-month repurchase plan (launched on May 27), which has now concluded. Data shows that during that period, the company repurchased a total of 6.5864 million ADSs, spending approximately $4.9 million. Notably, between November 19 and 27—just nine days—the company repurchased 1.5053 million ADSs, spending about $1.5 million. This indicates that the company increased its buying activity significantly when the stock price was relatively low.

Once the new repurchase authorization is activated, the company reserves the flexibility to adjust the plan’s scale and specific terms based on actual circumstances. This is a classic signal of confidence from a listed company to the market — voting with real money.