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Canaan Shares Jump Over 12% as it Lands Largest U.S. Order in 3 Years

Canaan, a Bitcoin mining hardware manufacturer, has secured its largest order in three years, selling over 50,000 Avalon A15 Pro miners to an unnamed U.S.-based firm. This order reflects a resurgence in the U.S. market for cryptocurrency mining despite rising mining difficulty, indicating ongoing commitment from miners to invest in the industry. Following the announcement, Canaan's shares rose by 12% in pre-market trading, building on an 18% increase from the previous day. The shipment of the ordered machines is scheduled for the fourth quarter of 2025. The CEO of Canaan, Nangeng Zhang, highlighted this as a significant milestone, underscoring the order’s implications for future business as the company continues to operate facilities in both the U.S. and Malaysia.

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