Canaan (CAN) Price: Stock Up 50% in Six Months After Major US Mining Order

TLDR

• Canaan shares jumped over 26% after securing a 50,000-rig order from a US-based company
• The deal for Avalon A15 Pro miners is Canaan’s largest in over three years
• Machines will ship in Q4 2025, buyer remains unnamed
• The order signals confidence in Bitcoin mining despite record-high mining difficulty
• Canaan stock is up 50% in six months, though still down 40% year-to-date

Canaan Inc., a leading Bitcoin mining hardware manufacturer, has seen its stock price surge dramatically following the announcement of its largest hardware order in over three years. The Singapore-based company’s shares jumped more than 26% in early trading after revealing a massive 50,000-rig deal with an unnamed US-based mining company.

The deal specifically involves Canaan’s latest-generation “Avalon A15 Pro” mining machines, which are institutional-grade Bitcoin mining rigs. According to company statements, this represents the largest order Canaan has secured in more than three years.

Canaan’s CEO, Nangeng Zhang, described the sale as a “milestone order” that highlights “the robust resurgence of the US market.” He added that the deal demonstrates both companies’ “confidence in the long-term growth” of Bitcoin mining.

The substantial order comes at a time when Bitcoin mining difficulty has reached all-time highs. On Thursday, the difficulty rate climbed to 150.84 trillion, making Bitcoin harder to mine than ever before.

The United States continues to dominate the global Bitcoin mining landscape, accounting for 36% of the global Bitcoin hashrate according to the Hashrate Index. This makes the US the world’s largest mining hub.

Market Response to the Deal

Canaan’s stock reaction was swift and dramatic. Shares rose 26.4% to $1.31 on Nasdaq following the announcement, according to Yahoo Finance data.

The company’s stock has experienced a 50% increase over the past six months. However, it remains down 40% year-to-date, reflecting the volatile nature of crypto-related stocks.

Pre-market trading saw shares up 12%, building on the previous day’s gains of nearly 18%. This positive movement demonstrates investor confidence in the company’s growth prospects following the deal.

The 50,000 mining rigs are scheduled for delivery in the fourth quarter of 2025. While the buyer remains unnamed, the scale of the purchase suggests a major mining operation is behind the order.

Challenges in the Mining Landscape

Despite this positive development for Canaan, the Bitcoin mining industry faces growing challenges. The increasing difficulty and associated costs have forced some players to exit the market.

In June 2025, Bit Digital announced it would shut down its Bitcoin mining operations to shift toward an Ethereum treasury strategy. The company’s CEO even predicted that the “Bitcoin mining industry is going to be dead in two years.”

The rising difficulty has led to increased dominance by large institutional miners. A recent report showed that the top four public miners accounted for 19.07% of the total block rewards in July 2025.

Nevertheless, solo miners still occasionally succeed. In July, a solo miner produced block 903,883, earning nearly $350,000 from the block reward and transaction fees. A few weeks later, another solo miner collected more than $373,000 in rewards.

Canaan, founded in Beijing in 2013, may be able to avoid tariff costs related to Chinese-sourced ASIC miners. The company operates facilities in both the US and Malaysia, which it has leveraged for separate purchase agreements.

The company did not specify which facilities will fulfill the 50,000 ASIC order. Canaan’s ability to produce and deliver these miners will be closely watched by investors in the coming months.

This major sale, despite the challenging mining environment, suggests that large players in the industry maintain a bullish outlook on Bitcoin mining’s future profitability.

The post Canaan (CAN) Price: Stock Up 50% in Six Months After Major US Mining Order appeared first on Blockonomi.

Source: https://blockonomi.com/canaan-can-price-stock-up-50-in-six-months-after-major-us-mining-order/