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Canaan Inc. shares fall 1.58% premarket after receiving a new purchase order from Bitfury Group for Avalon® ASIC-powered upgrade kits.
ByAinvest
Friday, Aug 29, 2025 6:12 am ET1min read
Canaan Inc. declined 1.58% in premarket trading, with the company announcing that it has received a new purchase order from Bitfury Group for Avalon® ASIC-powered upgrade kits. This equipment will be deployed at Bitfury's North American facility to upgrade up to 10MW of existing Bitcoin mining capacity, enhancing performance and energy efficiency. The order reflects the dedicated R&D collaboration under the strategic relationship between Canaan and Bitfury, commencing since July 2024.
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