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Canaan Inc. announces $30 million stock repurchase plan
Golden Finance reports that Nasdaq-listed Bitcoin mining company Canaan Inc. announced that the board of directors has approved a new stock repurchase plan, under which the company may repurchase $30 million worth of issued American Depositary Shares (ADS) over the next 12 months. Each ADS represents 15 Class A ordinary shares. Canaan previously launched a stock repurchase plan, which has expired, and has repurchased 6,586,413 ADS, totaling approximately $4.9 million.