Jianan Technology produced a record high of 109 bitcoins in May and launched a $30 million stock repurchase plan

Foresight News reports that Canaan Technology has released an unaudited update on its Bitcoin mining operations for May 2025. In May, its Bitcoin production increased by 25% month on month, reaching a historical high of 109 coins. At the end of the month, the total Bitcoin holdings reached a peak level of 1466 coins. In addition, in terms of company operations, Canaan Technology disclosed that its executives increased their holdings. On June 9, 2025, Canaan Technology announced that its CEO and CFO had purchased a total of 817268 American Depositary Shares (ADS) at an average price of $0.76 per ADS; On May 27th, the company's board of directors approved a share repurchase plan, authorizing the company to repurchase outstanding shares worth no more than $30 million within six months from May 27th, 2025; Terminate the $100 million preferred stock financing supplemental agreement. On March 10, 2025, Canaan Technology announced a Series A-1 preferred stock financing agreement of up to $200 million with institutional investors to support the company's business expansion. The initial $100 million funding has been raised at the time of delivery. Due to unforeseeable changes in the market environment, the company and investors have reached a consensus through consultation and decided to terminate the supplementary agreement involving the second phase of $100 million financing from April 30, 2025.