{"id":49803,"date":"2021-09-20T18:39:16","date_gmt":"2021-09-20T15:39:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=49803"},"modified":"2025-09-02T14:31:36","modified_gmt":"2025-09-02T11:31:36","slug":"canaan-to-buy-back-up-to-20-million-of-its-own-shares","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/canaan-to-buy-back-up-to-20-million-of-its-own-shares\/","title":{"rendered":"Canaan to buy back up to $20 million of its own shares"},"content":{"rendered":"<p>Nasdaq-listed cryptocurrency mining equipment maker Canaan announced a share repurchase program of up to $20 million. The proposal was approved by the company&#8217;s board of directors, according to a <a href=\\\"https:\/\/www.prnewswire.com\/news-releases\/canaan-inc-announces-up-to-us20-million-new-share-repurchase-program-301380286.html\\\">statement<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>Canaan may repurchase American depositary shares (ADS) over the next 12 months, starting from September 20, 2021. The program may be executed through open-market transactions, individually negotiated trades, block trades, or a combination of these methods.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cThe number of ADS and the timing of the buyback depend on a number of factors, including price, trading volume and market conditions, as well as Canaan&#8217;s working capital requirements and overall terms of doing business,\u201d the company said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>The board and management of Canaan may periodically review and adjust the program. The company plans to fund the program from its available cash on hand.<\/p>\n<p>\\n\\n<\/p>\n<p>In September 2020, Canaan announced that <a href=\"https:\/\/forklog.com\/en\/news\/canaan-to-spend-10-million-on-share-buyback\">would spend $10 million on share repurchases<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>In the second quarter of 2021, the mining equipment maker&#8217;s revenue <a href=\"https:\/\/forklog.com\/en\/news\/canaan-posts-record-quarterly-revenue-of-167-5-million\">amounted to $167.5 million<\/a>. This marked the highest quarterly sales on record for Canaan.<\/p>\n<p>\\n\\n<\/p>\n<p>Follow ForkLog news on <a href=\\\"https:\/\/twitter.com\/ForkLog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nasdaq-listed cryptocurrency mining equipment maker Canaan announced a share repurchase program of up to $20 million. The proposal was approved by the company&#8217;s board of directors, according to a statement.<\/p>\n","protected":false},"author":1,"featured_media":49804,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[845,1137,1211],"class_list":["post-49803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-canaan","tag-cryptocurrency-mining","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"31","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/49803","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=49803"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/49803\/revisions"}],"predecessor-version":[{"id":49805,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/49803\/revisions\/49805"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/49804"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=49803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=49803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=49803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}