Two executives of bitcoin mining rig maker Canaan seek to buy at least $2 million worth of company shares, claiming the company is “deeply undervalued” and expecting “many more opportunities will emerge” following the foremost cryptocurrency's block-reward halving.

The Nasdaq-listed company said in a statement on Monday that Nangeng Zhang, chairman and chief executive officer of Canaan, and James Jin Cheng, the company’s chief financial officer, intend to jointly purchase no less than $2 million of the firm’s class A ordinary shares represented by American Depositary shares. "We believe that the Company is deeply undervalued, providing a rare investment opportunity for us to pursue," said Zhang in the statement. 

The executives’ move comes after the bitcoin network underwent its …