Canaan Shares Jump Over 12% as it Lands Largest U.S. Order in 3 Years

Canaan Shares Jump Over 12% as it Lands Largest U.S. Order in 3 Years

Canaan Inc (NASDAQ: CAN) stock surged by 19.1% on Thursday, September 12, 2025, following the announcement of a significant purchase order for its latest-generation Avalon A15 Pro mining machines. The order, from a U.S.-based bitcoin miner, is the largest in the past three years for Canaan, highlighting renewed demand in the crypto mining sector .

The Avalon A15 Pro machines are designed to offer improved efficiency and reliability, critical factors in the competitive mining landscape where power costs significantly impact profitability. The order underscores Canaan's position in the institutional mining equipment market, which has seen increased activity alongside the recovery in bitcoin prices.

Nangeng Zhang, chairman and CEO of Canaan, stated, "This milestone order represents a significant win for Canaan and reflects the robust resurgence of the U.S. market. It demonstrates the strength of our latest mining equipment and our commitment to building long-term partnerships in the U.S. market."

The financial terms of the agreement were not disclosed, but the order centers on Canaan's Avalon A15 Pro machines, which are marketed for their competitive mining economics through industry-leading efficiency and uptime performance.

This substantial order reinforces Canaan's standing in the institutional mining equipment market and signals a positive outlook for the company as the cryptocurrency sector continues to evolve.