Canaan Executives Acquire Additional Shares, Signaling Confidence in Future Growth

Canaan Inc. (NASDAQ: CAN), a leader in the cryptocurrency mining sector, has announced that its Chairman and CEO, Nangeng Zhang, along with CFO James Jin Cheng, have made significant share purchases in the open market. This move reflects their confidence in the company’s future, as disclosed by the company.

Executive Share Purchases

Zhang and Cheng collectively acquired 817,268 American Depositary Shares (ADSs) at an average price of $0.76 per ADS. These transactions were conducted in compliance with Canaan’s internal trading policies and relevant legal regulations. The purchases underscore the executives’ belief in the company’s long-term potential.

“My share purchase underscores my belief in Canaan’s vision and the tremendous opportunities ahead,” stated Nangeng Zhang. He emphasized a perceived disconnect between the current ADS price and the value Canaan aims to deliver in the future.

About Canaan Inc.

Founded in 2013, Canaan Inc. is a technology company focused on ASIC high-performance computing chip design, research and development, computing equipment production, and software services. The company is renowned for its pioneering work in ASIC technology, having launched the first batch of bitcoin mining machines under the Avalon brand. Canaan went public on the Nasdaq Global Market in 2019.

For more information about Canaan Inc., visit their official website here.

Forward-Looking Statements and Risks

The announcement included forward-looking statements under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, such as the company’s future business development, the growth of the bitcoin industry, demand for its products, and geopolitical conditions affecting the industry.

Further details on potential risks can be found in Canaan Inc.’s filings with the U.S. Securities and Exchange Commission (SEC).

For the original announcement, visit [source name](https://www.prnewswire.com/news-releases/canaan-inc-announces-share-purchases-by-chief-executive-officer-and-chief-financial-officer-302476367.html).

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