Canaan Inc. Announces Open Market Share Purchases by Chief Executive Officer and Chief Financial Officer

Rhea-AI Summary

Canaan (NASDAQ: CAN) announced that its chairman & chief executive Nangeng Zhang and chief financial officer Jin "James" Cheng purchased a combined 1,456,547 American Depositary Shares (ADSs) on March 3, 2026 at an average price of US$0.51 per ADS.

According to the company, the purchases complied with internal trading policies and applicable securities rules and reflect the executives' confidence in Canaan's long-term strategy; the filings include an Amendment No.6 to Schedule 13G dated February 13, 2026.

Positive

• Insiders purchased 1,456,547 ADSs combined
• Average price paid: US$0.51 per ADS
• Purchases disclosed in Schedule 13G amendment dated Feb 13, 2026

Negative

• None.

Key Figures

ADS purchased: 1,456,547 ADSs Purchase price: US$0.51 per ADS Schedule 13G amendment date: February 13, 2026

3 metrics

ADS purchased 1,456,547 ADSs Open-market purchases by CEO and CFO

Purchase price US$0.51 per ADS Average price paid in insider buying

Schedule 13G amendment date February 13, 2026 Most recent Amendment No.6 to Schedule 13G filed by CEO

Market Reality Check

Price: $0.5031 Vol: Volume 9,569,535 is below...

low vol

$0.5031 Last Close

Volume Volume 9,569,535 is below the 20-day average of 15,906,132, suggesting limited pre-news positioning. low

Technical Shares at US$0.5031 are trading below the US$0.85 200-day moving average and 77.34% under the 52-week high.

Peers on Argus

Peer data show mixed moves in related hardware names, and momentum scans flag on...

1 Up

Peer data show mixed moves in related hardware names, and momentum scans flag only UMAC moving up, so today’s insider-buying headline appears more stock-specific than sector-driven.

Historical Context

5 past events · Latest: Feb 23 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 23	Crypto acquisition	Positive	+16.0%	Acquisition of Cipher’s stakes in ABC mining projects, expanding hashrate capacity.
Feb 10	Mining update	Neutral	-6.9%	January 2026 bitcoin production and mining metrics with record crypto treasury.
Feb 10	Earnings results	Negative	-6.9%	Strong 2025 revenue rebound but continued net loss and adjusted EBITDA loss.
Feb 03	Earnings date	Neutral	-3.3%	Announcement of timing for Q4 and full-year 2025 financial results call.
Jan 16	Listing notice	Negative	-3.8%	Nasdaq notification for minimum bid price noncompliance and 180-day cure period.

Pattern Detected

Recent news often saw negative or mixed price reactions, even on operational or financial improvements, with only the February acquisition showing a clear positive alignment.

Recent Company History

Over the past months, Canaan’s news flow mixed strategic expansion with compliance challenges. On Jan 16, 2026, it disclosed a Nasdaq minimum bid notice, which weighed on shares. Subsequent updates on earnings, treasury growth, and January mining metrics on Feb 10, 2026 still saw shares down despite revenue recovery and higher crypto reserves. By Feb 23, 2026, the Cipher mining asset acquisition drove a strong 16.01% gain. Today’s insider open‑market purchases follow this sequence of strategic moves and prior buyback activity.

Market Pulse Summary

This announcement highlights sizeable open-market buying by Canaan’s CEO and CFO, totaling 1,456,547...

Analysis

This announcement highlights sizeable open-market buying by Canaan’s CEO and CFO, totaling 1,456,547 ADSs at an average of US$0.51. Coming after recent acquisitions, earnings updates, and a Nasdaq minimum-bid notice, the moves underscore management’s stated confidence in long-term strategy while the stock trades below its US$0.85 200-day moving average. Investors may track future filings, operational performance, and progress on listing compliance as key indicators alongside this insider activity.

Key Terms

american depositary shares, ads, schedule 13g, securities regulations

4 terms

american depositary shares financial

"together acquired a total of 1,456,547 American Depositary Shares ("ADSs")"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

ads financial

"a total of 1,456,547 American Depositary Shares ("ADSs") of the Company"

Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.

schedule 13g regulatory

"after Mr. Zhang had filed the most recent Amendment No.6 to Schedule 13G on February 13, 2026"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

securities regulations regulatory

"in compliance with the Company's internal trading policies and applicable securities regulations"

Rules and laws that govern how stocks, bonds and other investment products are issued, bought, sold and reported to the public. They matter to investors because they create a level playing field—like traffic laws for markets—by requiring truthful disclosure, preventing fraud, and setting fair trading practices, which helps protect your money and makes it easier to compare investment options.

AI-generated analysis. Not financial advice.

SINGAPORE, March 3, 2026 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced that its chairman and chief executive officer, Nangeng Zhang ("Mr. Zhang"), and chief financial officer, Jin "James" Cheng ("Mr. Cheng"), had purchased additional shares of the Company's stock in the open market. The purchases were made in compliance with the Company's internal trading policies and applicable securities regulations.

Aligning themselves with shareholder interests, Mr. Zhang and Mr. Cheng together acquired a total of 1,456,547 American Depositary Shares ("ADSs") of the Company at an average price of US$0.51 per ADS, which reflected their continued confidence in the Company's long-term strategy and growth prospects. These purchases were made after Mr. Zhang had filed the most recent Amendment No.6 to Schedule 13G on February 13, 2026. 

"My recent share purchases reflect my strong conviction in Canaan's long-term vision and the opportunities ahead," said Nangeng Zhang. "Both James and I believe our current market valuation does not fully reflect the strength of our technology, strategy, and growth potential, and we remain confident in the value we are building for shareholders."

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 under the brand name Avalon and, today, the Company's machines have the second largest share of the global bitcoin mining market. 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 hash rate 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
IR@canaan-creative.com 

Christensen Advisory
Christian Arnell
canaan@christensencomms.com 

Public Relations Contact

BlocksBridge Consulting
Jesse Colzani
canaan@blocksbridge.com

 

View original content:https://www.prnewswire.com/news-releases/canaan-inc-announces-open-market-share-purchases-by-chief-executive-officer-and-chief-financial-officer-302702501.html

SOURCE Canaan Inc.

FAQ

What did Canaan (NASDAQ: CAN) announce on March 3, 2026 about insider buying?

Canaan announced that its CEO and CFO together bought 1,456,547 ADSs at an average of US$0.51 per ADS. According to the company, the purchases complied with internal trading policies and follow a Feb 13, 2026 Schedule 13G amendment.

How many shares did Canaan CEO Nangeng Zhang and CFO Jin Cheng buy, and at what price?

They acquired a combined 1,456,547 American Depositary Shares at an average price of US$0.51 per ADS. According to the company, the purchases were made in the open market and complied with securities regulations.

Does the Canaan (CAN) insider purchase reflect regulatory disclosure filings?

Yes; the company says the purchases were disclosed and followed internal policies, with an Amendment No.6 to Schedule 13G filed Feb 13, 2026. This indicates the transaction was reported under SEC disclosure procedures.

What does the Canaan (CAN) insider buying mean for shareholders and confidence?

The company presents the purchases as a signal of executive confidence in Canaan's long-term strategy and growth prospects. According to the company, executives believe current valuation does not reflect the firm's technology and potential.

Were Canaan (CAN) insider purchases executed on the open market or via a private transaction?

The purchases were executed in the open market, not private placements. According to the company, the acquisitions complied with the company's internal trading policies and applicable securities regulations.