Canaan Announces Initial Sale of Over 5,000 Avalon A15 Pro Bitcoin Miners
SINGAPORE, Sept. 8, 2025 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN), a leading innovator in the digital currency mining sector, has entered into a collaboration with Luxor Technology Corporation to offer versatile financial solutions for purchasers of Avalon mining equipment. This strategic partnership aims to streamline the acquisition process for customers seeking Canaan’s advanced mining hardware. Luxor will provide direct, non-dilutive financing options featuring competitive rates and minimal collateral demands, potentially driving increased adoption by institutional investors and facilitating greater capital allocation. This alliance has already resulted in the successful sale of more than 5,000 Avalon A15 Pro bitcoin miners in August to a prominent U.S.-based institutional bitcoin mining entity. Both Canaan and Luxor anticipate that this deal will pave the way for future sales expansions.
“Canaan is dedicated to providing technologies that reinforce the bitcoin ecosystem at every stage,” commented Nangeng Zhang, Chairman and CEO of Canaan. “Our collaboration with Luxor allows us to broaden institutional acceptance of our A15 Pro series and empowers miners to scale their operations responsibly, maintain operational adaptability, and ensure sustained engagement with bitcoin at more favorable cost structures. This partnership offers Canaan’s clientele financing opportunities paired with dependable revenue generation and cash flow predictability.”
The A15 Pro represents Canaan’s latest leap in application-specific integrated circuit (ASIC) technology, engineered to boost terahash output relative to energy consumption. Given that energy costs and efficiency are critical factors in mining economics, the A15 Pro positions institutional miners for sustained profitability and competitiveness, owing to the machines’ renowned reliability and superior uptime performance.
Luxor, known for its diverse suite of products, including LuxOS software, its mining pool, ASIC Trading, hashrate derivatives markets, and Hashrate Index, continues to strengthen its position as a trusted partner within the worldwide bitcoin mining industry. By providing innovative financing models and extensive industry knowledge, Luxor is unlocking new possibilities for institutional adoption and capital deployment.
“We are impressed by Canaan and enthusiastic about the progress of the Avalon A15 series. We believe it’s crucial that Canaan’s customers have enhanced financial alternatives. As a result, we are excited to lend Luxor’s expertise to assist in financing equipment purchases,” stated Matthew Williams, Head of Financial Services at Luxor. “Working together, we are developing financing and hardware solutions that support miners in expanding their operations and navigating market cycles with greater flexibility.”
This agreement reflects Canaan’s comprehensive approach to value creation through vertical integration, incorporating ASIC design and production, self-mining activities, and prudent bitcoin treasury management. By extending the reach of its Avalon A15 Pro series with the aid of partners such as Luxor, Canaan aims to align its operational strategies with bitcoin’s continuous growth, increasing institutional interest, and its increasing global recognition as a leading asset class.
About Canaan Inc.
Canaan Inc. (NASDAQ: CAN), established in 2013, is a technology firm focused on ASIC high-performance computing chip design, research and development, computing equipment production, and software services. Canaan possesses extensive expertise in chip design and streamlined production within the ASIC domain. In 2013, Canaan’s founding team delivered the world’s first batch of mining machines incorporating ASIC technology to its customers under the Avalon brand. Canaan completed its initial public offering on the Nasdaq Global Market in 2019. For more information about Canaan, please visit https://www.canaan.io/.
About Luxor Technology Corporation
Luxor Technology Corporation is a bitcoin mining software and services provider that offers a comprehensive selection of products designed for the mining and compute power industry. Luxor’s suite of solutions encompasses an ASIC Trading Desk, a bitcoin Mining Pool, a Financial Service Desk, ASIC Firmware, and a bitcoin Mining Data Platform. For inquiries regarding Luxor’s Financial Service Desk, please contact derivatives@luxor.tech.
Safe Harbor Statement
This press release includes forward-looking statements, which are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can often be identified by the use of terms like “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar expressions. Statements regarding the company’s business outlook, management quotations, and strategic and operational plans are considered forward-looking statements. Canaan Inc. may also issue forward-looking statements in its reports to the U.S. Securities and Exchange Commission (SEC) on Forms 20-F and 6-K, in its annual reports to shareholders, in press releases, and in oral statements from its officers, directors, or employees. Statements that do not represent historical facts, including those about Canaan Inc.’s beliefs and expectations related to revenue or mining hashrate deployment, are classified as forward-looking. Forward-looking statements involve inherent risks and uncertainties. Various factors could lead to actual results differing significantly from those projected in these statements, including but not limited to the company’s goals and strategies, future business development, ability to meet its objectives, financial health and operational outcomes, anticipated growth in the bitcoin sector and the price of bitcoin, expectations about product demand and market acceptance, particularly for bitcoin mining machines, expectations for maintaining and strengthening partnerships with production partners and customers, investment plans and strategies, fluctuations in quarterly operating results, industry competition, changing macroeconomic and geopolitical conditions, evolving international trade policies, and government regulations related to the company and cryptocurrency. More detailed information about these and other potential risks can be found in the company’s filings with the SEC. All information provided in this press release and related materials is current as of the release date. Canaan Inc. does not commit to updating any forward-looking statements unless legally required.
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.