Canaan Inc. Announces New US$20 Million Share Repurchase Program Under US$100 Million Board Authorization
PR Newswire•10/11/2026•06:08 ET
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Key Highlights
- ➤$20 million initial share repurchase program launched under $100 million authorization
- ➤$100 million authorization valid for 12 months beginning November 6, 2026
- ➤1 GW Duval County project progressing under ERCOT’s Batch Zero process
- ➤Additional 1 GW power project pipeline planned in Zapata County, Texas
Expert Statements
Nangeng Zhang, Chairman and Chief Executive Officer of Canaan
“The recent progress of our 1 GW Duval County project under ERCOT's Batch Zero process, together with our additional 1 GW power project pipeline in Zapata County, Texas, reinforces our confidence in Canaan's transformation toward energy and computing infrastructure and our long-term prospects.”
Nangeng Zhang, Chairman and Chief Executive Officer of Canaan
“This new share repurchase program reflects our belief that our shares are trading at levels that materially undervalue the strength of our business model and long-term growth potential.”
Nangeng Zhang, Chairman and Chief Executive Officer of Canaan
“We view share repurchases as an important capital allocation priority.”
Nangeng Zhang, Chairman and Chief Executive Officer of Canaan
“As additional funds become available, we intend to pursue repurchases more actively while maintaining sufficient liquidity for ongoing operations and committed projects.”
Nangeng Zhang, Chairman and Chief Executive Officer of Canaan
“This new program underscores our commitment to disciplined capital allocation and enhancing shareholder value.”
Canaan Inc. Announces New US$20 Million Share Repurchase Program Under US$100 Million Board Authorization PR Newswire
New authorization reflects confidence in the Company's strategic transformation and long-term prospects
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