Crypto Mining Stock Surges Following Share Repurchase Program Announcement
A Chinese company that operating in the digital blockchain computing and crypto mining industry is stealing the show so far during Tuesday's session after the company announced that its board of directors has authorized a share repurchase program under which the company may repurchase up to $30 million worth of outstanding ADSs and/or class A ordinary shares, over the next six months starting from May 27,2025, according to a press release.
Traders rushed to scoop up shares of Canaan Inc. (Nasdaq:CAN) following the news, pushing the small cap up to $0.7301/share (+15.23%) at the early session high. This move could be the start of a potential breakout from the multi-month downtrend this stock has been stuck in since the end of last year.
Canaan Inc is a developer of supercomputing chips and the manufacturer of digital blockchain computing equipment as well as the supplier of the overall scheme for computer software and hardware of digital blockchain. The equipment manufactured by Canaan is sold to many countries including China, the United States, Hong Kong, and other foreign countries. It derives a vast majority of the revenue from China. Its product includes Kanzhi Al and Avalon Mining Machine.
Copyright © 2025 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.
View more of this article on AllPennyStocks.com.
About AllPennyStocks.com Media, Inc.:
Founded in 1999, AllPennyStocks.com is one of North America's leading platforms for micro-cap insights.
Catering to both Canadian and U.S. markets, we provide a wealth of resources and expert content designed for everyone—from beginner investors to seasoned traders.
AllPennyStocks.com is rapidly gaining recognition as a leading authority in the micro-cap space, with our insightful content prominently featured across numerous top-tier financial platforms, reaching a broad audience of investors and industry professionals.
Want to showcase your company's story to a powerful network of investors? We can help you elevate your message and make a lasting impact. Contact us today.
Contact:
AllPennyStocks.com Media, Inc.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Globe and Mail
19 minutes ago
- Globe and Mail
Cornish Metals Provides an Update for the South Crofty Tin Project
VANCOUVER, British Columbia, June 04, 2025 (GLOBE NEWSWIRE) -- Cornish Metals Inc. (AIM/TSX-V: CUSN) ('Cornish Metals' or the 'Company'), a mineral exploration and development company focused on advancing its 100% owned and permitted South Crofty tin project in Cornwall, United Kingdom, is pleased to provide a project update. The Company has placed long lead item orders for two winders and has engaged Technical Management Group Ltd ("TMG") to provide project management consulting services for the development of South Crofty. Winder Orders Orders have been placed with Qualter Hall & Company Limited ('Qualter Hall') for the design, manufacture, supply, installation and commissioning of the production and service winders to be used at South Crofty's New Cook's Kitchen ('NCK') shaft. The two winders are long-lead items and constitute an important use of proceeds from the recently completed fundraise. Qualter Hall is a UK-based company with a history spanning over 160 years, specialising in engineering solutions, particularly in the fields of bridges, water and flood control, mining, and shipbuilding. They provide comprehensive engineering services, including design, manufacture and installation and have a longstanding relationship with South Crofty. The 3.2 metre ('m') single drum 1,200 kilowatt ('kW') service winder has a maximum hoisting capacity of 12,500kg gross at a speed of up to 7.3 metres per second ('m/s') and will be used for production personnel and equipment. This winder will replace the existing 2.3m single drum 132 kW winder currently in-place and used for pre-production access and shaft refurbishment activities that will be relocated to the Roskear shaft. The 3.2m single clutch, double drum 1,200kW production winder will be used to hoist rock from depth to near-surface. With a maximum hoisting capacity of 11,500kg gross at a speed of up to 7.9 m/s, it is designed to handle the hoisting demands required for the proposed production rates as detailed in the South Crofty Preliminary Economic Assessment. TMG Appointment TMG has been engaged to provide project management consulting services to Cornish Metals to further the development of South Crofty by supplementing the Company's owner's team resources through the construction phase and ramp-up to full production with experienced project management, project controls, procurement and engineering professionals. TMG is the best suited partner for the Company and will integrate with the existing Cornish Metals team. TMG specialises in project management for the mining, energy and infrastructure sectors, serving clients around the world and providing comprehensive services for projects across their various lifecycles. TMG unites consultants, suppliers, contractors, and executive teams, ensuring the right expertise is applied at the right time to drive project success, while helping to optimise resources and mitigate risks. Don Turvey, CEO and Director of Cornish Metals, stated: 'Placing the orders with Qualter Hall for the winders to be used at South Crofty's NCK shaft is a vital step to maintaining the momentum on-site, actioning one of the project's critical path projects which will allow for the planned commencement of pre-production underground development in H2 2026. The engagement of TMG provides an immediate bolstering of our project development owner's team through the addition of experienced professionals who will work alongside the existing Cornish Metals team, ensuring that we are project ready and setup for project success to bring South Crofty back to production.' Gifford Brown, Managing Director of Qualter Hall, stated: 'Qualter Hall has been supporting activities at South Crofty for over 50 years. We are therefore immensely proud to maintain this relationship with Cornish Metals by taking a key role in this important project. The full turnkey scope of work incorporates complete in-house capability, from initial design and manufacturing right through to final installation and commissioning, all delivered by our dedicated team here in Barnsley. This collaboration underscores Qualter Hall's continued expertise and leadership in the design and delivery of critical mining and hoisting infrastructure and we look forward to working with the South Crofty team again.' Kenny MacEwen, President of TMG, stated: 'South Crofty represents more than just a return to production—it's a statement of what's possible when the right team is assembled with clarity of purpose. TMG is here to bring structure, discipline, and momentum to the project alongside Cornish Metals. Our mandate is clear: support a successful build and help position South Crofty as a modern mining operation ready to thrive.' ABOUT CORNISH METALS Cornish Metals is a dual-listed mineral exploration and development company (AIM and TSX-V: CUSN) that is advancing the South Crofty tin project towards production. South Crofty: is a historical, high-grade, underground tin mine located in Cornwall, United Kingdom and benefits from existing mine infrastructure including multiple shafts that can be used for future operations; is permitted to commence underground mining (valid to 2071), construct a new processing facility and for all necessary site infrastructure; has a 2024 Preliminary Economic Assessment that validates the Project's potential (see news release dated April 30, 2024 and the Technical Report entitled ' South Crofty PEA '); would be the only primary producer of tin in Europe or North America. Tin is a Critical Mineral as defined by the UK, American, and Canadian governments as it is used in almost all electronic devices and electrical infrastructure. Approximately two-thirds of the tin mined today comes from China, Myanmar and Indonesia; benefits from strong local community, regional and national government support with a growing team of skilled people, local to Cornwall, and could generate up to 320 direct jobs. ON BEHALF OF THE BOARD OF DIRECTORS 'Don Turvey' Don Turvey CEO and Director Engage with us directly at our investor hub. Sign up at: For additional information please contact: Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Caution regarding forward looking statements This news release may contain certain 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements'). Forward-looking statements include predictions, projections, outlook, guidance, estimates and forecasts and other statements regarding future plans, the realisation, cost, timing and extent of mineral resource or mineral reserve estimates, estimation of commodity prices, currency exchange rate fluctuations, estimated future exploration expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, requirements for additional capital and the Company's ability to obtain financing when required and on terms acceptable to the Company, future or estimated mine life and other activities or achievements of Cornish Metals. Forward-looking statements are often, but not always, identified by the use of words such as 'seek', 'anticipate', 'believe', 'plan', 'estimate', 'forecast', 'expect', 'potential', 'project', 'target', 'schedule', 'budget' and 'intend' and statements that an event or result 'may', 'will', 'should', 'could', 'would' or 'might' occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, are forward-looking statements that involve various risks and uncertainties and there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risks related to general economic and market conditions; risks related to the availability of financing; the timing and content of upcoming work programmes; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; projected dates to commence mining operations; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. The list is not exhaustive of the factors that may affect Cornish's forward-looking statements. Cornish Metals' forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date such statements are made. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward- looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. Cornish Metals does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. Market Abuse Regulation (MAR) Disclosure
Globe and Mail
an hour ago
- Globe and Mail
Atua AI Advances Real-Time AI Performance Using Layered Cryptocurrency Systems
Layered Blockchain Infrastructure Enables Faster Execution, Smarter Insights, and Scalable AI Automation Singapore, Singapore--(Newsfile Corp. - June 4, 2025) - Atua AI (TUA), the decentralized AI-powered productivity platform, has advanced its real-time automation capabilities by integrating layered cryptocurrency systems to support high-speed, intelligent operations across Web3. This architectural enhancement strengthens Atua AI's ability to process blockchain data, automate responses, and execute AI-powered tasks with unprecedented efficiency and scalability. Real-time AI automation powered by layered blockchain infrastructure To view an enhanced version of this graphic, please visit: By leveraging a layered structure across blockchains like Ethereum, BNB Chain, and XRP Ledger, Atua AI optimizes how AI modules—including Chat, Writer, and Classifier—interact with live on-chain activity. Tasks such as financial reporting, real-time analytics, and smart contract automation now benefit from reduced latency, parallel execution, and automated failover between layers for maximum reliability. This approach allows enterprises to build intelligent systems that respond instantly to market signals, user behavior, or governance events, while maintaining performance integrity across high-traffic networks. The layered infrastructure also enables predictive AI to scale based on blockchain congestion levels and transaction priorities, ensuring consistent quality of service. Atua AI's integration of layered cryptocurrency systems reflects its commitment to pioneering infrastructure-level innovation in Web3. With this evolution, the platform empowers users to harness the full potential of real-time AI in decentralized environments, delivering speed, intelligence, and resilience where it matters most. About Atua AI Atua AI offers AI-powered productivity and creativity tools in the Web3 space. Its features include Chat, Writer, Imagine, Voiceover, and Classifier—all designed to empower users with intelligent, decentralized solutions for content creation, coding, analysis, and more. Media Contact Dorothy Marley KaJ Labs +1 707-622-6168 media@ Social Media Twitter Instagram
Globe and Mail
an hour ago
- Globe and Mail
Colle AI Refines Creator Tools to Support Smart NFT Personalization Workflows
Platform upgrades improve customization options and AI-powered metadata handling for more tailored NFT experiences Singapore, Singapore--(Newsfile Corp. - June 4, 2025) - Colle AI (COLLE), the AI-driven NFT creation platform, has refined its creator suite to support advanced personalization workflows, offering artists and developers more intuitive control over their NFTs. These updates focus on expanding customization, simplifying UI elements, and enabling real-time metadata manipulation. To view an enhanced version of this graphic, please visit: With the improved toolkit, users can now personalize traits, visuals, and metadata directly through Colle AI's interface-driven by an adaptive AI engine that automates formatting and compatibility across supported blockchains. The result is a smarter minting experience that preserves uniqueness without added complexity. These refined tools also introduce dynamic presets for layered NFTs, allowing creators to set randomized or user-defined personalization rules while ensuring full cross-chain compatibility with Ethereum, Solana, XRP, Bitcoin, and BNB Chain. Colle AI's personalization engine represents a major step forward in creator empowerment, enabling more expressive NFT design that scales with intelligent infrastructure across the evolving Web3 landscape. About Colle AI Colle AI leverages AI technology to simplify the NFT creation process, empowering artists and creators to easily transform their ideas into digital assets. The platform aims to make NFT creation more accessible, fostering innovation in the digital art space. Media Contact Dorothy Marley KaJ Labs +1 707-622-6168 media@ Social Media Twitter Instagram
