Canaan Inc. Announces Adoption of Cryptocurrency Holding Policy and Strategic Long Position in Bitcoin
Rhea-AI Summary
Canaan (NASDAQ: CAN), a crypto mining innovator, has announced the adoption of a new Cryptocurrency Holding Policy that establishes bitcoin as its primary long-term reserve asset. The company will retain bitcoin accumulated through its mining operations and equipment sales for the long term, unless needed for liquidity or risk management.
The policy allows for temporary holdings of other cryptocurrencies like Ethereum and compliant stablecoins, which will generally be converted to fiat currency. As of June 30, 2025, Canaan's bitcoin reserves stood at 1,484 BTC. The strategy aims to strengthen the company's balance sheet and align with the broader digital asset economy.
Positive
- Strategic accumulation of 1,484 bitcoins as of June 30, 2025
- Implementation of structured cryptocurrency management policy strengthens corporate governance
- Diversification of revenue streams through self-mining operations and equipment sales
- Long-term bitcoin holding strategy may provide upside potential if BTC appreciates
Negative
- Increased exposure to bitcoin price volatility risk
- Potential balance sheet impact from cryptocurrency market fluctuations
- Limited liquidity due to long-term bitcoin holding strategy
News Market Reaction
On the day this news was published, CAN gained 0.14%, reflecting a mild positive market reaction. Argus tracked a peak move of +4.4% during that session. Our momentum scanner triggered 15 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $471K to the company's valuation, bringing the market cap to $337M at that time.
Data tracked by StockTitan Argus on the day of publication.
Under the Policy, bitcoin is designated as the Company's primary long-term reserve asset. Unless required for liquidity management or risk mitigation, bitcoin accumulated through ordinary business activities—including self-mining and the sale of mining equipment—will generally be retained on a long-term basis. Canaan believes that a disciplined, long-term BTC reserve position fortifies its balance sheet, aligns the Company with the broader digital asset economy, and provides strategic optionality for future growth.
From time to time, Canaan may acquire other cryptocurrencies such as Ethereum or
Nangeng Zhang, chairman and chief executive officer of Canaan, commented: "The Policy is designed to anchor Canaan's capital allocation approach firmly within its core competency—the global bitcoin ecosystem—while providing measured flexibility to address operational requirements that may arise from the Company's self-mining operations, bitcoin mining machine sales, and related crypto-infrastructure initiatives. We believe in the strategic importance of maintaining bitcoin reserves, which reached 1,484 bitcoins as of June 30, 2025."
About Canaan Inc.
Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan's founding team shipped to its customers the world's first batch of mining machines incorporating ASIC technology in bitcoin's history under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.'s strategic and operational plans, contain forward-looking statements. Canaan Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.'s beliefs and expectations, such as expectations with regard to revenue or mining hashrate deployment, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development; the ability of the Company to execute against its goals, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin; the Company's expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company's expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company's investment plans and strategies; fluctuations in the Company's quarterly operating results; competition in its industry; changing macroeconomic and geopolitical conditions, including evolving international trade policies and the implementation of increased tariffs, import restrictions, and retaliatory trade actions; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact
Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com
ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com
View original content:https://www.prnewswire.com/news-releases/canaan-inc-announces-adoption-of-cryptocurrency-holding-policy-and-strategic-long-position-in-bitcoin-302517412.html
SOURCE Canaan Inc.
FAQ
How many bitcoins does Canaan (CAN) hold as of June 2025?
What is Canaan's new Cryptocurrency Holding Policy?
How will Canaan handle other cryptocurrencies besides Bitcoin?
What is the purpose of Canaan's new crypto holding strategy?
Who announced Canaan's new Bitcoin holding policy?
