Order of more than 50,000 Avalon® A15 Pro Bitcoin miners marks the biggest single purchase in three years, with deliveries scheduled for the final quarter of 2025.
SINGAPORE, October 2, 2025 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leader in cryptocurrency mining hardware, today announced a significant agreement: a large purchase order from a prominent Bitcoin mining operation based in the United States. The agreement covers over 50,000 units of Canaan’s state-of-the-art Avalon A15 Pro mining rigs. This order, the largest received in the last three years, underscores the potency of Canaan’s advanced technology and demonstrates confidence from both companies in the sustained expansion of Bitcoin mining and the escalating market demand for superior, next-generation infrastructure.
“This monumental order is a major victory for Canaan and reflects the vigorous rebound we are seeing in the U.S. market,” stated Nangeng Zhang, Chairman and CEO of Canaan. “It not only underscores the exceptional capabilities of our Avalon A15 Pro but also reaffirms our unwavering dedication to serving our global clientele, with a specific focus on forging enduring partnerships within the U.S. We are committed to delivering machines that seamlessly blend quality, performance, and a strong return on investment. Our dedication remains steadfast in providing top-tier mining infrastructure, and supporting our customer’s growth through innovation, reliability, and trust.”
The Avalon A15 Pro represents Canaan’s latest advancement in Bitcoin mining technology, delivering industry-leading efficiency and dependability. With energy expenses and overall efficiency as key determinants of mining profitability, the Avalon A15 Pro provides large-scale mining enterprises with the tools necessary to maintain a competitive edge, thanks to the reliability and superior uptime performance of these advanced machines.
With this record-setting order, Canaan solidifies its standing as a reliable collaborator for large-scale mining ventures across the globe.
About Canaan Inc.
Founded in 2013, Canaan Inc. (NASDAQ: CAN) specializes in high-performance computing through ASIC chip design, research, and development. Furthermore, the company manufactures computing equipment and provides related software solutions. Canaan boasts considerable expertise in chip design and optimized production processes within the ASIC domain. In 2013, Canaan’s founding team was the first to deliver ASIC-powered mining machines to customers worldwide under the Avalon brand. In 2019, Canaan successfully launched its initial public offering on the Nasdaq Global Market. More information about Canaan can be found at https://www.canaan.io/.
Safe Harbor Statement
This announcement includes forward-looking statements made in accordance with the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be recognized by terms like “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. These statements encompass, among other aspects, business prospects and management quotes, as well as Canaan Inc.’s strategic and operational blueprints. Canaan Inc. may also issue written or verbal forward-looking statements in reports to the U.S. Securities and Exchange Commission (“SEC”) through Forms 20-F and 6-K, annual reports to shareholders, press releases, written materials, and oral statements made by its executives, directors, or employees. Statements that do not relate to past events, including assumptions about Canaan Inc.’s beliefs and expectations regarding revenue or mining hash rate, constitute forward-looking statements. These forward-looking statements entail intrinsic risks and uncertainties. A number of considerations could lead to actual results differing significantly from those projected in such statements, including but not limited to: the Company’s objectives and strategies; its prospective business development; its capacity to achieve its objectives; its financial status and operational outcomes; the projected expansion of the Bitcoin industry and the price of Bitcoin; the Company’s assumptions regarding market demand and acceptance of its products, especially Bitcoin mining machines; its expectations regarding maintaining and enhancing its relationships with production partners and customers; its investment plans and strategies; fluctuations in quarterly operating results; industry competition; evolving macroeconomic and geopolitical circumstances, including international trade policies, increased tariffs, import restrictions, and retaliatory trade measures; and pertinent government regulations affecting the Company and cryptocurrencies. Comprehensive details concerning these and additional risks are available in the Company’s filings with the SEC. All information presented in this press release and related attachments is current as of its release date, and Canaan Inc. assumes no obligation to revise any forward-looking statements unless required by applicable law.
Investor Relations Contact
Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com
Christensen Advisory
Christian Arnell
Email: canaan@christensencomms.com
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SOURCE Canaan Inc.