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Canaan Inc. has secured a purchase order from a U.S.-based bitcoin miner for more than 50,000 of its latest Avalon A15 Pro mining machines, marking its largest order in three years.
Canaan Inks Deal for Over 50,000 Units
The Nasdaq-listed company announced the milestone agreement earlier this week, which it says points to the strength of its technology and shared confidence in the long-term growth of the bitcoin mining sector.
This significant demand highlights the market’s ongoing shift toward highly efficient, next-generation mining infrastructure. “This milestone order represents a significant win for Canaan and reflects the robust resurgence of the U.S. market,” Nangeng Zhang, chairman and CEO of Canaan remarked.
He emphasized the company’s focus on building long-term partnerships and delivering machines that provide a strong return on investment. The Avalon A15 Pro is Canaan’s newest generation bitcoin mining machine. The air-cooled A15 Pro delivers around 221 terahash per second (TH/s).
In an industry where power costs are a primary economic factor, these attributes are critical for institutional miners seeking competitive operational advantages. The news has produced a notable surge in the company’s stock. Shares of Canaan, which trades on the Nasdaq under the ticker CAN, are up approximately 90% this month.
This large-scale purchase signals continued institutional investment in bitcoin mining capacity. It points to a strategic focus on upgrading to more efficient hardware to improve profitability and sustainability in a competitive market.