Canaan sells all 3,952 ETH and 54 BTC, buys back 13.6M ADS
- —Mined 44 BTC in August, with installed hashrate of 10.05 EH/s
- —Sold 3,952 ETH at about $2,400 and 54 BTC at about $79,000, raising $13.9 million
- —Bought back 13.6 million ADS for $5.4 million, 16.4 million year-to-date
- —1,868 BTC remains on the balance sheet
Why it matters: A major miner is converting its crypto treasury into share buybacks, signaling a priority on shareholder value over accumulating digital assets.
Source: PR Newswire Blockchain