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Canaan may sell more bitcoin for stock buybacks as mining-rig revenue falls 96%

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 12/11/2026, 07:55:24 UTC.

Briefings

Avalon maker announced a $20 million stock buyback program, but most of its bitcoin holdings were pledged or held in fixed-term products as of September 2026, limiting immediate cash availability for the plan.

Key points

• Avalon maker launched a $20 million repurchase program.
• Most bitcoin holdings were pledged or placed in fixed-term products at the end of September 2026.

Context

This finding indicates a potential disconnect between the company's stated buyback capacity and its actual bitcoin exposure, as the vast majority of assets were locked in fixed-term products rather than being available for direct repurchase.

Limitations

Evidence is limited to a single statement from September 2026; the specific date of the buyback program launch is not confirmed, and the total value of pledged versus available bitcoin is not quantified.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 12/11/2026, 08:06:09 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

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