{"id":58873,"date":"2022-03-17T11:33:29","date_gmt":"2022-03-17T09:33:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=58873"},"modified":"2025-09-04T18:59:45","modified_gmt":"2025-09-04T15:59:45","slug":"canaan-to-spend-up-to-100m-on-share-buyback","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/canaan-to-spend-up-to-100m-on-share-buyback\/","title":{"rendered":"Canaan to spend up to $100m on share buyback"},"content":{"rendered":"

The Chinese company Canaan announced<\/a> a buyback of its shares on the open market. The mining equipment maker will spend up to $100 million on this purpose.<\/p>\n

The shares have fallen 85% over the year. The company attributed the decline to the impact of the coronavirus pandemic and macroeconomic factors on the capital markets.<\/p>\n

In September 2021, Canaan allocated $20 million<\/a> to support its capitalisation.<\/p>\n

\n

“Given the strong fundamentals and the company’s liquidity position, we would like to allocate additional capital to enhance value for shareholders,”<\/em> \u2014 the statement said.<\/p>\n<\/blockquote>\n

Following trading-session news on March 16, Canaan jumped<\/a> in price by 37.6%.<\/p>\n

Separately, the company warned<\/a> that the first-quarter results could be affected by a lockdown in China imposed due to the COVID-19 outbreak.<\/p>\n

As reported in the fourth quarter of 2021, Canaan announced<\/a> revenue rose 67% versus July\u2013September (to $342 million).<\/p>\n

Subscribe to the ForkLog channel on YouTube<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"

The Chinese company Canaan announced a buyback of its shares on the open market. The mining equipment maker will spend up to $100 million on this purpose.<\/p>\n","protected":false},"author":1,"featured_media":58874,"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-58873","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":"5","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58873","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=58873"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58873\/revisions"}],"predecessor-version":[{"id":58875,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58873\/revisions\/58875"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/58874"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=58873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=58873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=58873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}