Canaan Technology launches $30 million stock buyback program

Odaily Planet Daily reports that Nasdaq-listed Bitcoin mining company Canaan Creative announced its board of directors has approved a new share repurchase program. The company can repurchase $30 million worth of its outstanding American Depositary Shares (ADSs) over the next 12 months, with each ADS representing 15 Class A ordinary shares. Canaan Creative previously launched a share repurchase program, which has now expired, totaling 6,586,413 ADSs repurchased, amounting to approximately $4.9 million. (PRNewswire)