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Canaan Inc . (NASDAQ:CAN) announced the adoption of a cryptocurrency holding policy that designates bitcoin as the company’s primary long-term reserve asset. The mining equipment manufacturer said bitcoin accumulated through ordinary business activities, including self-mining and equipment sales, will generally be retained on a long-term basis unless required for liquidity management or risk mitigation.
The company reported holding 1,484 bitcoins as of June 30, 2025. Under the new policy, Canaan may acquire other cryptocurrencies such as Ethereum or U.S.-compliant stablecoins in ordinary business operations, but these non-core holdings will generally be converted to fiat currency or held for short- to medium-term periods when supporting operational requirements.
"The Policy is designed to anchor Canaan’s capital allocation approach firmly within its core competency—the global bitcoin ecosystem—while providing measured flexibility to address operational requirements," said Nangeng Zhang, chairman and chief executive officer of Canaan.
The policy establishes a framework for the acquisition, custody, and disposition of cryptocurrencies to support the company’s liquidity needs, risk tolerance, and strategic objectives. Canaan, established in 2013, focuses on ASIC high-performance computing chip design and mining equipment production. The company completed its initial public offering on the Nasdaq Global Market in 2019.
The information is based on a press release statement from the company.