TLDR
- Bitcoin mining hardware manufacturer Canaan secured a 50,000-rig order from a US company, marking its largest sale in three years
- Canaan stock jumped 26.4% to $1.31 following the announcement, with shares up 50% over six months
- The Avalon A15 Pro miners will ship in Q4 2025 to an undisclosed US-based buyer
- Bitcoin mining difficulty hit an all-time high of 150.84 trillion, making mining more competitive than ever
- The US controls 36% of global Bitcoin hashrate, cementing its position as the world’s top mining hub
Bitcoin mining equipment manufacturer Canaan Inc. announced a major hardware sale this week that sent its stock climbing. The company secured an order for 50,000 Avalon A15 Pro mining rigs from a US-based firm. This represents Canaan’s largest hardware deal in more than three years.
The buyer’s identity remains undisclosed, though the order size points to a major mining operation. Canaan will ship the latest-generation institutional-grade miners during the fourth quarter of 2025. CEO Nangeng Zhang called the deal a milestone that reflects strong US market demand.
Stock Performance and Market Response
Canaan shares rose 26.4% to $1.31 on Nasdaq following the announcement. The stock has gained over 50% in the past six months. However, shares remain down 40% year-to-date according to Yahoo Finance data.
The Singapore-based company saw immediate market enthusiasm for the deal. Pre-market trading showed a 12% increase before regular trading pushed gains even higher. Investors viewed the order as validation of continued Bitcoin mining investment despite industry challenges.
Rising Mining Difficulty Creates Challenges
Bitcoin mining difficulty reached a record 150.84 trillion on Thursday. This metric measures the computational power needed to mine new blocks on the Bitcoin blockchain. The difficulty level has climbed steadily throughout 2025.
In August, mining difficulty hit 127.6 trillion before rising to 134.7 trillion in early September. The Bitcoin network adjusts difficulty approximately every two weeks to maintain consistent block production. Higher difficulty means miners need more powerful equipment to remain profitable.
The increasing challenge has forced some companies to exit the market. Bit Digital announced in June 2025 it would shut down Bitcoin mining operations. The company’s CEO predicted the industry cannot survive another halving event.
US Dominates Global Mining Operations
The United States accounts for 36% of worldwide Bitcoin hashrate according to the Hashrate Index. This makes America the largest Bitcoin mining hub globally. The strong US market position helps explain Canaan’s focus on American buyers.
Large institutional miners have increased their market dominance. The top four public mining companies captured 19.07% of total block rewards in July 2025. These firms include MARA, IREN, Cango, and CleanSpark.
Despite institutional dominance, solo miners occasionally succeed. One individual miner earned nearly $350,000 on July 3 by successfully mining a single block. Another solo miner collected over $373,000 a few weeks later.
Canaan operates manufacturing facilities in multiple locations including the US and Malaysia. This geographic diversification helps the company manage supply chain logistics and potentially navigate trade considerations. The company previously used these facilities to fulfill a separate agreement with Cipher Mining.
The Avalon A15 Pro represents Canaan’s newest mining hardware designed for institutional operations. These machines offer improved efficiency compared to previous generations as mining becomes increasingly competitive.
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