Canaan Inc. has extended its share buyback program, authorizing the repurchase of up to $30 million worth of ADS or Class A ordinary shares over the next 12 months. The buyback will be funded by existing cash and conducted through various methods, including open market and private placements, in compliance with the Securities Exchange Act of 1934. The pace of repurchase will be influenced by market conditions, price, and trading volume. The previous six-month buyback program, which expired recently, saw Canaan repurchase 6.5864 million ADSs, totaling approximately $4.9 million. This included 1.5053 million ADSs repurchased in late November. The company retains the flexibility to adjust the program's size and terms as necessary.