Canaan Inc. has received purchase orders for more than 50,000 new Avalon A15 Pro mining machines from the US-based Bitcoin Miner, making it the largest order in the last three years.
Canaan Inks begins trading more than 50,000 units
The Nasdaq listed company announced a milestone agreement earlier this week, claiming its strength in technology and a common confidence in the long-term growth of its Bitcoin mining division.
This high demand highlights the continued market transition to highly efficient next-generation mining infrastructure. “This groundbreaking order is a major victory for Canaan and reflects the strong revival of the US market,” said Nangen Chan, chairman and CEO of Canaan.
He emphasized that the company is focused on building long-term partnerships and providing machines that provide a high return on investment. The Avalon A15 Pro is Canaan’s latest generation of Bitcoin mining machine. The air-cooled A15 Pro delivers approximately 221 terrahash (TH/s) per second.
In industries where electricity costs are the main economic drivers, these characteristics are extremely important for institutional miners seeking competitive operational benefits. The news has caused the company’s stock price to rise significantly. Canaan’s stock price, which is trading on the Nasdaq market under the ticker “CAN,” has risen about 90% this month.
This massive purchase suggests a continuing institutional investment in Bitcoin’s mining capabilities. This demonstrates a strategic focus on upgrading to more efficient hardware to improve profitability and sustainability in a competitive market.
