Canaan Inc.’s stock surged more than 26% in early trading Thursday after announcing its largest mining rig sale in over three years. A US-based company ordered 50,000 units of Canaan’s Avalon A15 Pro, an institutional-grade Bitcoin mining machine.
While the buyer’s name was not disclosed, the deal highlights significant demand for efficient next-generation mining infrastructure. CEO Nangeng Zhang said the agreement underscores both companies’ confidence in Bitcoin mining’s long-term growth.
The US remains the world’s top mining hub, contributing 36% of the global hashrate, according to Hashrate Index. Bitcoin mining involves validating transactions and minting new coins, a process that grows more difficult over time as network difficulty adjusts every 2,016 blocks.
On September 5, difficulty hit 134.7 trillion, and has since risen to 150.84 trillion, marking the highest level ever. Canaan’s massive sale arrives amid record-high mining difficulty, signaling increasing competition for block rewards and strong institutional investment in mining capacity.
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