Canaan Sold 3,952 ETH and 54 BTC for $13.9M to Fund Share Buybacks
- —Canaan mined 44 BTC in August 2026 with a 10.05 EH/s installed hashrate
- —Sold all 3,952 ETH at ~$2,400 and 54 BTC at ~$79,000, raising $13.9 million
- —Spent $5.4 million to buy back 13.6 million ADSs; 16.4 million repurchased year-to-date
- —Treasury retains 1,868 BTC; Q2 product revenue fell to $13.6 million from $71.9 million
Why it matters: Selling ETH and BTC to fund buybacks signals pressure on Canaan's mining business and weak demand for mining equipment.
Source: Yahoo Finance Crypto