TLDR
- Canaan Inc. landed its largest hardware order in over three years, selling 50,000 Avalon A15 Pro Bitcoin mining rigs to an unnamed US-based company
- Canaan shares jumped over 26% in early trading Thursday following the announcement, with the stock up more than 50% over the past six months
- The machines are scheduled to ship in the fourth quarter of 2025, with the buyer’s identity remaining undisclosed
- Bitcoin mining difficulty reached a record 150.84 trillion on Thursday, making it harder to mine than ever before
- The US accounts for 36% of global Bitcoin hashrate, making it the world’s largest mining hub
Canaan Inc. announced a major equipment sale this week, securing an order for 50,000 Bitcoin mining rigs from a US-based company. The deal marks the company’s largest hardware order in more than three years.
We’re proud to announce our largest U.S. purchase order — more than 50,000 Avalon® A15 Pro miners scheduled for Q4 2025 delivery.
This milestone reflects strong demand for efficient, next-gen mining infrastructure.
Read our CEO’s thoughts 👉 https://t.co/GmjBQKPD4t#Canaan…
— Canaan Inc. (@canaanio) October 2, 2025
The Singapore-based mining equipment manufacturer will supply its latest Avalon A15 Pro miners to the unnamed buyer. These institutional-grade machines represent the company’s newest generation of mining hardware. The order will ship during the fourth quarter of 2025.
Canaan CEO Nangeng Zhang described the sale as a milestone win for the company. He said the deal reflects confidence in Bitcoin mining’s long-term growth. Zhang also pointed to demand for efficient, next-generation mining infrastructure.
The company’s stock responded strongly to the news. Canaan shares rose 26.4% to $1.31 on Nasdaq in early trading Thursday. The stock has climbed over 50% in the past six months, though it remains down 40% year-to-date.
The order comes as Bitcoin mining continues to grow more challenging. Mining difficulty hit a record 150.84 trillion on Thursday. This metric measures how hard it is to find new blocks on the Bitcoin network.
The difficulty has increased steadily throughout 2025. In August, it reached 127.6 trillion before climbing to 134.7 trillion in early September. The network adjusts difficulty approximately every two weeks to maintain consistent block production times.
Mining Landscape Shifts
The United States dominates global Bitcoin mining operations. American miners control 36% of the worldwide hashrate, according to the Hashrate Index. This makes the US the largest single mining hub globally.
Rising costs and difficulty have pushed some companies out of the market. Bit Digital announced in June 2025 that it would shut down its Bitcoin mining operations. The company chose to shift toward an Ethereum treasury strategy instead.
Bit Digital CEO Sam Tabar made pessimistic predictions about the industry’s future. He stated that Bitcoin mining would be “dead in two years.” Tabar added that the industry cannot survive another halving event.
Large institutional miners have increased their market share. The top four public miners captured 19.07% of total block rewards in July 2025. These companies include MARA, IREN, Cango, and CleanSpark.
Individual solo miners still occasionally succeed despite the odds. One solo miner earned nearly $350,000 on July 3 by mining block 903,883. A few weeks later, another solo miner collected over $373,000 for mining block 907,283.
Canaan operates manufacturing facilities in multiple countries. The company has locations in both the US and Malaysia. This geographic spread may help the company navigate trade considerations, as it previously leveraged these facilities for a separate deal with Cipher Mining.
