Bitcoin mining gear maker Canaan (CAN) has secured its greatest {hardware} order in three years, promoting over 50,000 of its Avalon A15 Professional bitcoin miners to a U.S.-based mining agency.
The machines are set to ship within the fourth quarter of 2025, the Singapore-based firm stated. The identify of the customer wasn’t named, though the size of the purchases factors to a serious mining operations.
“This milestone order represents a major win for Canaan and displays the sturdy resurgence of the U.S. market,” Canaan CEO Nangeng Zhang stated in a press release.
The order additionally factors to miners’ continued bets on the trade, even because the cryptocurrency’s mining issue climbs to a brand new all-time excessive. Shares of Canaan had been up 12% in pre-market buying and selling following the information and moved up practically 18% in yesterday’s buying and selling session.
Whereas reciprocal tariffs utilized for Chinese language-sourced ASIC miners and Canaan has, for many of its historical past, been working from China, it could possibly keep away from these prices. The corporate operates services within the each the U.S. and Malaysia, which it has leveraged for a separate buy settlement with Cipher Mining.
The corporate didn’t specify which services shall be fulfilling the 50,000 AISC order.
