2 hours ago
Bitcoin mining instrumentality shaper Canaan (CAN) has secured its biggest hardware bid successful 3 years, selling implicit 50,000 of its Avalon A15 Pro bitcoin miners to a U.S.-based mining firm.
The machines are acceptable to vessel successful the 4th fourth of 2025, the Singapore-based company said. The sanction of the purchaser wasn’t named, though the standard of the purchases points to a large mining operations.
"This milestone bid represents a important triumph for Canaan and reflects the robust resurgence of the U.S. market,” Canaan CEO Nangeng Zhang said successful a statement.
The bid besides points to miners’ continued bets connected the industry, adjacent arsenic the cryptocurrency’s mining difficulty climbs to a caller all-time high. Shares of Canaan were up 12% successful pre-market trading pursuing the quality and moved up astir 18% successful yesterday’s trading session.
While reciprocal tariffs applied for Chinese-sourced ASIC miners and Canaan has, for astir of its history, been operating from China, it whitethorn beryllium capable to debar these costs. The institution operates facilities successful the some the U.S. and Malaysia, which it has leveraged for a abstracted purchase statement with Cipher Mining.
The institution did not specify which facilities volition beryllium fulfilling the 50,000 AISC order.
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