Markets

Canaan Considers Selling Bitcoin for Stock Buybacks Amid 96% Mining-Rig Revenue Drop

November 12, 2026, 7:41 AM UTC (4 hours ago) · 1 source · Summarized by CryptoBipto

Canaan, a publicly traded bitcoin mining equipment manufacturer, may sell additional bitcoin holdings to fund stock buyback programs. The company's mining-rig revenue has reportedly fallen by 96%, prompting it to explore alternative uses for its bitcoin reserves.

WHY IT MATTERS

Canaan makes the specialized computers (called ASIC miners) that people use to mine bitcoin.

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SOURCES

coindesk.com

BTCBitcoin MiningMining HardwareCorporate StrategyStock Buybacks

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