Canaan Sells All 3,952 Ethereum Coins in Full Liquidation, Uses Partial Proceeds for Stock Buyback

Canaan Inc. ($CAN), a bitcoin mining company, sold all 3,952 Ethereum coins and 54 Bitcoin coins in late August. The company reported in its Q2 2026 financial results released on August 8 that the sale generated approximately $13.9 million (about 18.7 billion won) in cash. The firm stated it used part of the proceeds to repurchase company shares, clarifying that this digital asset liquidation does not indicate a change in its long-term digital asset strategy.