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

Canaan Inc. (CAN) stock surged over 12% following the announcement of its largest U.S. hardware order in three years, marking a significant milestone for the Bitcoin mining equipment manufacturer. The cryptocurrency mining giant secured a major contract to supply more than 50,000 Avalon A15 Pro bitcoin miners to an undisclosed U.S.-based mining operation.

This substantial order represents a crucial victory for Canaan in the competitive Bitcoin mining hardware market, potentially signaling renewed confidence in cryptocurrency mining infrastructure investments. The Avalon A15 Pro miners are among Canaan's flagship products, designed to optimize Bitcoin blockchain validation and mining efficiency.

The deal comes amid evolving dynamics in the cryptocurrency sector, where institutional adoption and mining profitability continue to drive demand for advanced mining equipment. For investors tracking blockchain technology stocks, Canaan's significant order demonstrates the company's ability to compete with industry leaders while capitalizing on Bitcoin's sustained market presence.

This development could position Canaan for improved revenue growth and market share expansion in the North American cryptocurrency mining landscape, making it a notable player to watch in the digital asset ecosystem.