Bitcoin mining equipment manufacturer Canaan (CAN) has secured its largest hardware order in three years and sold over 50,000 Avalon A15 Pro Bitcoin miners to US-based mining companies.
The Singapore-based company plans to ship the machines in the fourth quarter of 2025. The buyer is not named, but the size of the purchase points to the main mining operation.
“This milestone order represents a major victory for Canaan and reflects a robust revival of the US market,” Canaan CEO Nangen Chan said in a statement.
The order also keeps miners ongoing bets to the industry, even as cryptocurrency mining difficulties rise to a new all-time high. Canaan shares rose 12% in pre-market trading following the news and nearly 18% in yesterday’s trading session.
Mutual tariffs applied to the Chinese ASIC Miner and Canaan have been operated from China for much of its history, but these costs may be avoided. The company operates facilities in both the US and Malaysia, and is being used for separate purchase agreements with the crypto mining industry.
The company did not specify which facilities would meet the 50,000 AISC order.
