Business1 source
Canaan may sell more bitcoin for stock buybacks as mining-rig revenue falls 96%
Headline from CoinDesk
Key points
- Bitcoin mining hardware manufacturer Canaan could sell additional bitcoin reserves to fund its $20 million stock repurchase program following a 96% drop in mining-rig revenue.
- According to recent filings, the Avalon maker disclosed that the majority of its bitcoin holdings were either pledged as collateral or locked in fixed-term financial products at the end of September.
Summarized automatically by Kryptokite from reporting by CoinDesk. Read the original sources for full detail.
Coins mentioned
Sources
- CoinDeskCanaan may sell more bitcoin for stock buybacks as mining-rig revenue falls 96% · 6 hours agoRead on CoinDesk
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