SINGAPORE — March 3, 2026 — Canaan Inc. (Nasdaq: CAN) said its chairman and chief executive officer, Nangeng Zhang, and chief financial officer, Jin “James” Cheng, purchased additional shares of the company in the open market, describing the buys as aligned with shareholder interests and executed in line with internal trading policies and applicable securities rules.
Canaan said the two executives collectively acquired 1,456,547 American Depositary Shares (ADSs) at an average price of $0.51 per ADS, and characterized the purchases as a reflection of continued confidence in the company’s long-term strategy and growth outlook.
The company also noted that the purchases were made after Zhang filed Amendment No. 6 to Schedule 13G on February 13, 2026.
In a statement included in the release, Zhang said the buying reflects his conviction in Canaan’s long-term vision, adding that he and Cheng believe the company’s current valuation does not fully reflect the strength of its technology, strategy, and growth potential.
Canaan describes itself as a technology company focused on ASIC high-performance computing chip design, related R&D, computing equipment production, and software services, and notes its history as a supplier of ASIC-based mining machines under the Avalon brand.
Industry takeaway
In crypto-adjacent public markets, open-market insider buying is closely watched because it’s one of the clearest “skin-in-the-game” signals executives can send without changing guidance. For mining hardware and infrastructure names like Canaan—where sentiment can swing with BTC price cycles and hardware demand—management purchases often become a focal point for investors looking to separate short-term volatility from long-term execution confidence.
Source: Caanan Press Release