Bitcoin mining hardware manufacturer Canaan saw shares surge over 25% Thursday after announcing its largest single order in three years. The company secured a purchase for more than 50,000 Avalon A15 Pro mining machines from an unnamed U.S.-based Bitcoin miner.
The order will be delivered by year's end and represents approximately 10 EH/s of total computing power when fully deployed. This hashrate accounts for roughly 1.4% of the current total Bitcoin network capacity, according to company statements.
CEO and Chairman Nangeng Zhang called the milestone order a significant win, reflecting a robust resurgence in the U.S. market. He emphasized that the transaction highlights both the Avalon A15 Pro's strength and Canaan's commitment to building long-term partnerships with American clients.
Each Avalon A15 Pro unit delivers approximately 218 TH/s of hashrate. The machines represent Canaan's latest-generation mining technology designed to combine quality, performance, and strong return on investment for operators.
The United States accounts for 36% of global Bitcoin hashrate, making it the world's largest mining hub. This dominance has attracted significant infrastructure investment and hardware orders from domestic mining operations.
Canaan shares traded at $1.31 on Nasdaq following the announcement, reflecting a 26.4% gain. The stock has increased over 50% during the past six months but remains down 40% year-to-date.
Bitcoin mining difficulty reached 150.84 trillion on Thursday, an all-time high that makes the network more challenging to mine than ever before. The difficulty adjusts approximately every two weeks and has climbed steadily as more computational power joins the network.
Major miners, including Cipher Mining and CleanSpark, have deployed Avalon machines this year. The Beijing-founded company, established in 2013, first offered Bitcoin futures in 2017 and has maintained its position as a leading hardware manufacturer despite increasing competition and rising network difficulty.