The Nasdaq-listed company announced the milestone agreement earlier this week, which it says points to the strength of its technology and shared confidence in the long-term growth of the bitcoin mining sector.

This significant demand highlights the market’s ongoing shift toward highly efficient, next-generation mining infrastructure. “This milestone order represents a significant win for Canaan and reflects the robust resurgence of the U.S. market,” Nangeng Zhang, chairman and CEO of Canaan remarked.

He emphasized the company’s focus on building long-term partnerships and delivering machines that provide a strong return on investment. The Avalon A15 Pro is Canaan’s newest generation bitcoin mining machine. The air-cooled A15 Pro delivers around 221 terahash per second (TH/s).

In an industry where power costs are a primary economic factor, these attributes are critical for institutional miners seeking competitive operational advantages. The news has produced a notable surge in the company’s stock. Shares of Canaan, which trades on the Nasdaq under the ticker CAN, are up approximately 90% this month.

This large-scale purchase signals continued institutional investment in bitcoin mining capacity. It points to a strategic focus on upgrading to more efficient hardware to improve profitability and sustainability in a competitive market.

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