Share this article
Canaan Shares Jump Over 12% as it Lands Largest U.S. Order in 3 Years
The machines will ship in the fourth quarter of 2025, the company said, while keeping the buyer unnamed.
Oct 2, 2025, 1:53 p.m.
Make us preferred on Google
What to know:
- Bitcoin mining hardware maker Canaan has secured its largest hardware order in three years, selling over 50,000 Avalon A15 Pro bitcoin miners to a U.S.-based mining firm.
- The machines will ship in the fourth quarter of 2025, the company said, while keeping the buyer unnamed.
- The order suggests that miners are continuing to invest in the industry, despite increasing mining difficulty, and Canaan's shares rose 12% in pre-market trading and 18% in the previous day's trading session.
Bitcoin mining equipment maker Canaan (CAN) has secured its biggest hardware order in three years, selling over 50,000 of its Avalon A15 Pro bitcoin miners to a U.S.-based mining firm.
The machines are set to ship in the fourth quarter of 2025, the Singapore-based company said. The name of the buyer wasn’t named, although the scale of the purchases points to a major mining operations.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
"This milestone order represents a significant win for Canaan and reflects the robust resurgence of the U.S. market,” Canaan CEO Nangeng Zhang said in a statement.
The order also points to miners’ continued bets on the industry, even as the cryptocurrency’s mining difficulty climbs to a new all-time high. Shares of Canaan were up 12% in pre-market trading following the news and moved up nearly 18% in yesterday’s trading session.
While reciprocal tariffs applied for Chinese-sourced ASIC miners and Canaan has, for most of its history, been operating from China, it may be able to avoid these costs. The company operates facilities in the both the U.S. and Malaysia, which it has leveraged for a separate purchase agreement with Cipher Mining.
The company did not specify which facilities will be fulfilling the 50,000 AISC order.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
R3 bets on Solana to bring institutional yield onchain
As DeFi investors seek stable, uncorrelated returns, R3 is building Solana-native structures to bring private credit and trade finance into crypto markets.
What to know:
- R3 has repositioned itself around tokenization and onchain capital markets, with Solana as its strategic base.
- The firm is targeting high-yield, institutional assets like private credit and trade finance, packaged in DeFi-native structures.
- Liquidity, not tokenization itself, is the next unlock for real-world assets onchain, according to R3 co-founder Todd MacDonald.
Top Stories
