Bitcoin Mining Equipment Maker Canaan (CAN) has secured its largest hardware order in three years and sold over 50,000 of its Avalon A15 Pro Bitcoin mine workers to an American-based mining company.
The machines are set to be shipped in the fourth quarter of 2025, the Singapore-based company said. The buyer’s name was not named even though the scope of the purchases points to a larger mining.
“This milestone order represents a significant victory for Canaan and reflects the robust resurgence of the US market,” Canaan CEO Nangeng Zhang said in a statement.
The order also points to the miners’ continued betting on the industry, even when Cryptocurrency’s mining difficulties climb up to a new highlight at all times. Shares in Canaan rose 12% in trading before the market after the news and rose almost 18% in yesterday’s trade session.
While mutual tariffs applied for Chinese-Sourced Asic Mine Workers and Canaan have operated in most of its history from China, it could possibly avoid these costs. The company runs facilities in both the US and Malaysia, as it has geared to a separate purchase agreement with chiffer mining.
The company did not specify which facilities will meet the 50,000 AISC order.
