Bitcoin mining hardware maker Canaan announces $10 million share repurchase plan

China-based bitcoin miner manufacturer Canaan Creative announced today that its board of directors has approved a stock share repurchase program.

The news comes almost a year after the company listed its shares on Nasdaq, pricing them at $9 per share, raising $90 million. Since then, the company has dealt with disappointing revenue figures and internal turmoil. In July, Canaan dismissed four of its senior executives. The company did not comment on the reasoning behind the move, but China-based media outlets reported that the internal restructuring occurred in response to disputes over the company’s long-term strategy. At press time, the stock price was right around $2. 

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