TLDR
- Canaan’s shares rose 26% after securing a 50,000 Bitcoin mining rig order.
- The order for Avalon A15 Pro rigs marks Canaan’s largest sale in over three years.
- Bitcoin mining difficulty hits a new high as the US dominates global hashrate.
- Canaan’s shares have gained over 50% in the past six months despite a 40% decline YTD.
Canaan Inc. saw a significant increase in its stock price Thursday, with shares rising over 26% after the company secured a major order for 50,000 Bitcoin mining rigs. This sale marks the largest order Canaan has received in more than three years. The order involves the latest-generation Avalon A15 Pro mining machines, which are known for their high efficiency in Bitcoin mining.
The buyer, a US-based company, remains undisclosed, but the deal highlights strong market confidence in the future of Bitcoin mining. The sale also underscores the growing demand for advanced mining equipment as the industry continues to expand. At the time of the announcement, Canaan’s shares were trading at $1.31 on Nasdaq, according to Yahoo Finance.
Significant Boost to Canaan’s Financial Position
Following the announcement, Canaan’s shares jumped 26.4%, adding to the company’s over 50% growth in the past six months. However, despite these recent gains, the company has still faced challenges, with its stock down 40% year-to-date. The substantial order comes at a crucial time for Canaan, as it continues to recover from previous market volatility.
The Avalon A15 Pro machines ordered are high-performance, institutional-grade rigs designed to mine Bitcoin efficiently. This order signals that major players in the crypto mining industry are looking to upgrade their infrastructure with next-generation equipment. Bitcoin mining, a process that requires significant computing power, has grown increasingly difficult as the network raises mining difficulty and reduces block rewards over time.
Bitcoin Mining Difficulty Reaches New Heights
Meanwhile, the difficulty of mining Bitcoin has steadily increased, making it more challenging to generate new coins. According to recent data from the Hashrate Index, the global Bitcoin hashrate is now dominated by the United States, which accounts for 36% of the total hashrate. As mining difficulty continues to climb, miners require more powerful equipment, such as the Avalon A15 Pro, to remain competitive.
The latest Bitcoin mining difficulty rate hit 150.84 trillion on Thursday, surpassing previous records. This increase follows a significant rise in August 2025, when mining difficulty reached 127.6 trillion. Difficulty has continued to climb since then, with another jump to 134.7 trillion in early September. The ongoing difficulty adjustments demonstrate the growing challenge of securing the Bitcoin network.
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