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2h ago

Canaan Lands 50,000-Plus U.S. Bitcoin Miner Order as Shares Jump About 25%

The deal highlights resurgent U.S. institutional demand for efficient mining hardware.

Canaan shares jump over 12% as it lands largest u.s. order in 3 years
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Overview

  • The unnamed U.S. customer ordered more than 50,000 Avalon A15 Pro rigs, Canaan's largest single sale in three years.
  • Canaan said the machines are slated to ship in the fourth quarter of 2025.
  • Nasdaq-listed shares of Canaan rose roughly 25% after the announcement, with some outlets citing a 26% gain.
  • CEO Nangeng Zhang framed the purchase as evidence of a U.S. mining recovery and confidence in the A15 Pro's efficiency.
  • The buyer's identity and the manufacturing sites for fulfillment were not disclosed, as rising network difficulty pushes large operators to upgrade hardware.