Kanan Sells All Held ETH, Partial BTC to Buy Back Shares

Kanan (Nasdaq ticker: CAN), a Nasdaq-listed Bitcoin mining equipment manufacturer, announced it sold all of its held ETH and some BTC to fund treasury stock repurchases. The company sold 3,952 ETH at approximately $2,400 per coin and 54 BTC at around $79,000 each, securing $13.9 million in cash. Of this amount, $5.4 million was used to purchase 13.6 million ADS (American Depositary Shares) on the market. As of late August, Kanan held 1,868 BTC.