Key Takeaways:
- Canaan’s stock surged 26.4% after landing its largest sale in 3 years: 50,000 Avalon A15 Pro Bitcoin mining rigs to a U.S.-based buyer.
- Rising mining difficulty hit a record 150.84 trillion in early October, intensifying pressure on Bitcoin miners.
- Institutional dominance in Bitcoin mining grows, with four major public firms securing over 19% of block rewards in July.
Canaan Inc.’s stock surged more than 26% after the company announced its largest deal in over three years – a 50,000-unit order of its new Avalon A15 ProBitcoin mining rigs from an undisclosed U.S. buyer.
The machines, described as institutional-grade and energy-efficient, highlight renewed U.S. demand for mining infrastructure.
We’re proud to announce our largest U.S. purchase order — more than 50,000 Avalon® A15 Pro miners scheduled for Q4 2025 delivery.
— Canaan Inc. (@canaanio) October 2, 2025
This milestone reflects strong demand for efficient, next-gen mining infrastructure.
Read our CEO’s thoughts 👉 https://t.co/GmjBQKPD4t#Canaan…
CEO Nangeng Zhang said the agreement reflects confidence in the long-term growth of Bitcoin mining.
The U.S. currently leads global hashrate, contributing 36% of the network’s computing power.
Founded in Beijing in 2013, Canaan is a leading designer and manufacturer of crypto mining hardware.
Despite Thursday’s rally to $1.31 per share, the stock remains down about 40% year-to-date, though it has climbed over 50% in the past six months.
The deal comes amid increasingly difficult mining conditions.
Bitcoin’s network difficulty reached an all-time high of 150.84 trillion in early October, forcing some operators to exit.
Bit Digital, for example, shut down its mining arm in June to pivot toward Ethereum.
Institutional miners now dominate, with firms like MARA, IREN, Cango, and CleanSpark securing nearly 20% of block rewards, while occasional solo miners still achieve notable payouts.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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