Canaan Inc. has secured a purchase order for more than 50,000 new Avalon A15 Pro mining machines from a US-based Bitcoin miner, making it the largest order in the past three years.
Canaan Inks begins trading over 50,000 units
The Nasdaq-listed company announced the milestone agreement earlier this week, saying it demonstrates 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 continued transition to highly efficient next-generation mining infrastructure. “This landmark order is a major victory for Canaan and reflects the strong resurgence of the U.S. market,” said Nangen Zhang, Canaan’s Chairman and CEO.
He emphasized that the company is focused on building long-term partnerships and providing machines with high return on investment. Avalon A15 Pro is Canaan’s latest generation Bitcoin mining machine. The air-cooled A15 Pro delivers approximately 221 terahash per second (TH/s).
In an industry where power costs are the main economic factor, these characteristics are of great importance to institutional miners seeking competitive operational advantages. This news caused the company’s stock price to rise significantly. Canaan’s stock, which trades on the Nasdaq under the ticker “CAN,” is up about 90% this month.
This large purchase signals continued institutional investment in Bitcoin mining capacity. This indicates a strategic focus on upgrading to more efficient hardware to improve profitability and sustainability in a competitive market.