Canaan Inc (NASDAQ:CAN) jumped 19.1% on Thursday following news that the crypto mining hardware manufacturer secured a purchase order for more than 50,000 of its Avalon A15 Pro mining machines from a U.S.-based bitcoin miner.
The deal marks Canaan’s largest order in three years, underscoring renewed activity in the crypto mining sector. The company did not disclose the financial terms but confirmed the order focuses on its Avalon A15 Pro units, designed for higher efficiency and reliability for institutional miners.
“This milestone order represents a significant win for Canaan and reflects the robust resurgence of the U.S. market,” said Nangeng Zhang, chairman and CEO of Canaan. He added that the order highlights the strength of their latest mining equipment and their commitment to building long-term partnerships in the U.S. market.
The Avalon A15 Pro is promoted as delivering competitive mining economics, featuring industry-leading efficiency and uptime performance—key considerations as energy costs heavily influence mining profitability.
This substantial order reinforces Canaan’s position in the institutional mining equipment market at a time when bitcoin mining activity is rising alongside the cryptocurrency’s price recovery.
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