Canaan Inc. saw its stock price rise over 26% in early trading on Thursday, following the announcement that the cryptocurrency mining company received an order for 50,000 mining machines.
Canaan Creative stated that a U.S. company has purchased the latest generation of the "Avalon A15 Pro" mining machines, which are institutional-grade Bitcoin mining equipment. The identity of the buyer has not been disclosed, and this marks Canaan Creative's largest order in three years.
The company's CEO, Nangeng Zhang, stated that this deal reflects both parties' confidence in the long-term growth of Bitcoin mining and the demand for efficient, next-generation infrastructure.
According to data from Hashrate Index, the U.S. accounts for 36% of the global Bitcoin hash rate, making it the largest mining center in the world. This hash rate represents the total computational power miners use to secure the network.
Canaan Inc. is a cryptocurrency mining hardware company founded in Beijing in 2013. According to Yahoo Finance data, as of the time of writing, the company's Nasdaq stock price has risen 26.4% to $1.31.
The stock has increased by over 50% in the past six months, but has fallen 40% year-to-date.
Bitcoin mining verifies transactions through computational power and adds new blocks to the blockchain, with miners receiving newly generated Bitcoin as a reward while securing the network.
This process drives the circulation of new Bitcoins, but as the network increases difficulty approximately every two weeks (or every 2016 blocks), and the block reward is halved every four years, mining difficulty continues to rise.
In August 2025, mining difficulty reached a record of 1.276 trillion, rising to 1.347 trillion on September 5. By Thursday of this week, the difficulty further increased to 1.5084 trillion, setting a new historical high.
As mining difficulty and associated costs rise, some participants are being forced to exit. In June 2025, Bit Digital announced it would shut down its Bitcoin mining operations and shift to an Ethereum (ETH) asset strategy.
The company's CEO, Sam Tabar, told Cointelegraph, "The Bitcoin mining industry will disappear in two years," and stated, "The mining industry cannot survive another halving."
The increase in Bitcoin mining difficulty has also led to large institutional miners dominating the market. The latest report from The Miner Mag shows that four publicly listed mining companies—MARA, IREN, Cango, and CleanSpark—accounted for 19.07% of all block rewards in July.
However, individual miners still occasionally succeed in mining blocks. On July 3, an individual miner produced block 903,883, earning nearly $350,000 in block rewards and transaction fees paid by users to expedite confirmation.
A few weeks later, another individual miner successfully mined block 907,283, receiving over $373,000 in rewards based on the Bitcoin price that day.
Related: DoubleZero protocol launches mainnet test version, focusing on encrypted communication
Original article: “Canaan Inc. Shares Surge After Signing 50,000 Bitcoin (BTC) Mining Rig Order”
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