Insider buying: Canaan (NASDAQ: CAN) leaders add 1,065,000 ADSs
Rhea-AI Filing Summary
Canaan Inc. reports that its chairman and CEO, Nangeng Zhang, and CFO, Jin “James” Cheng, have purchased a total of 1,065,000 American Depositary Shares (ADSs) in the open market at an average price of US$0.35 per ADS. The company notes that the trades complied with its internal trading policies and applicable securities regulations and states that these continued purchases reinforce the executives’ alignment with shareholders. Management links the buying to confidence in Canaan’s long-term strategy, highlighting expansion from ASIC mining hardware into mining infrastructure, energy-related initiatives, and broader compute opportunities.
Positive
- None.
Negative
- None.
Insights
Canaan highlights insider open-market share purchases as a confidence signal.
Canaan Inc. discloses that its CEO and CFO together bought 1,065,000 ADSs at an average of US$0.35 per ADS in open-market transactions. Because these are voluntary purchases, they often indicate that senior management sees value in the current share price.
The company frames the buying within a long-term strategy that extends beyond ASIC mining hardware into mining infrastructure, energy initiatives, and other compute opportunities. These statements are forward-looking and subject to operational execution, bitcoin market conditions, regulation, and broader macroeconomic factors described in the risk discussion.
Future periodic reports on Forms 20-F and 6-K may show how effectively Canaan grows its energy-related and mining infrastructure activities and whether management continues similar insider purchases under comparable market conditions.
Key Figures
Key Terms
ASIC technical
forward-looking statements regulatory
mining hash rate technical
Private Securities Litigation Reform Act of 1995 regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of June 2026
Commission File Number: 001-39127
Canaan Inc.
28 Ayer Rajah Crescent
#06-08
Singapore 139959
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
EXHIBITS
|
Exhibit No. |
Description | |
| Exhibit 99.1 | Canaan Inc. Announces Open Market Share Purchases by Chief Executive Officer and Chief Financial Officer |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Canaan Inc. | ||
| By: |
/s/ Nangeng Zhang | |
| Name: | Nangeng Zhang | |
| Title: | Chairman and Chief Executive Officer | |
Date: June 24, 2026
Exhibit 99.1
Canaan Inc. Announces Open Market Share Purchases by Chief Executive Officer and Chief Financial Officer
Open market purchases underscore management's confidence in Canaan's long-term growth strategy
SINGAPORE, June 24, 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 (“Zhang”), and chief financial officer, Jin “James” Cheng (“Cheng”), recently 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.
Zhang and Cheng together acquired a total of 1,065,000 American Depositary Shares (“ADSs”) of the Company at an average price of US$ 0.35 per ADS. The continued share purchases by the CEO and CFO further reinforce their alignment of interests with those of shareholders.
“James and I remain highly confident in Canaan's future and the opportunities ahead,” said Zhang. “Our share purchases reflect our conviction in the Company's long-term strategy and our belief that the convergence of energy and compute will create significant value over the coming years. Building on our foundation as a leading compute hardware innovator, we are expanding our presence across mining infrastructure, energy-related initiatives, and emerging compute opportunities. We believe Canaan's combination of hardware expertise, operational experience, and growing energy platform positions us well to capitalize on this evolving market landscape while creating long-term value 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. 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