$BTC

Canaan (CAN), one of the largest manufacturers of ASIC for Bitcoin and cryptocurrency mining, officially announced on July 31 the adoption of a strategic reserve in BTC and cryptocurrencies.

Through a statement, the company explained that bitcoin will be considered its main reserve asset, with a declared holding of 1.484 BTC as of June 30, 2025.

"Canaan has officially adopted a long-term bitcoin holding policy. BTC is now our main reserve asset, which strengthens our balance sheet and strategic focus."

Canaan, manufacturer of Bitcoin and cryptocurrency ASICs.

The company maintains that this policy responds to a strategic vision aimed at strengthening its balance sheet, linking its capital with the ecosystem in which it operates, and maintaining flexibility for future growth.

According to the document, the goal is to retain the bitcoins obtained through its regular operations (such as the sale of ASIC equipment or mining conducted on its own), unless it is necessary to sell part of those holdings to manage liquidity or mitigate risks.

Canaan will also acquire other cryptocurrencies such as ether or certain stablecoins regulated by the U.S. Genius Act, although those positions will not be part of the core strategic reserves.

According to the company, those holdings in ether or stablecoins will generally be "converted to fiat currency, but may also be held in the short or medium term when such positions directly support operational requirements, hedging strategies, or other approved corporate objectives."

For his part, the CEO and president of Canaan, Nangeng Zhang, stated that the policy is designed to align the company's capital allocation with its core competency, namely, the global Bitcoin ecosystem.

"We believe in the strategic importance of maintaining reserves in bitcoin," Zhang said.