Avalon A15 Pro bitcoin miners
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Canaan Shares Jump Over 12% as it Lands Largest U.S. Order in 3 Years
Yahoo Finance· 2025-10-02 13:53
Core Insights - Canaan has secured its largest hardware order in three years, selling over 50,000 Avalon A15 Pro bitcoin miners to a U.S.-based mining firm, with shipments scheduled for Q4 2025 [1] - This order signifies a strong recovery in the U.S. market and reflects miners' ongoing confidence in the cryptocurrency industry despite increasing mining difficulty [2] - Canaan's operational presence in the U.S. and Malaysia may help the company mitigate costs associated with reciprocal tariffs on Chinese-sourced ASIC miners [3] Company Summary - Canaan's CEO, Nangeng Zhang, highlighted the milestone order as a significant achievement for the company, indicating a robust resurgence in the U.S. market [2] - Following the announcement of the order, Canaan's shares experienced a notable increase, rising 12% in pre-market trading and nearly 18% during the previous trading session [2] Industry Context - The order reflects the continued investment and optimism from miners in the cryptocurrency sector, even as the mining difficulty reaches an all-time high [2] - Canaan's ability to fulfill the order from its facilities in the U.S. and Malaysia positions the company advantageously in the current market landscape [3]