Canaan Shares Surge on Blockbuster Mining Rig Order

Canaan Inc. witnessed extraordinary trading activity as its stock price skyrocketed more than 25% in a single session. This powerful surge was ignited by the company securing its most substantial individual purchase agreement in over three years—a deal for 50,000 Avalon A15 Pro miners from a Bitcoin mining operation based in the United States.

Record-Breaking Deal Fuels Rally

The cornerstone of this bullish sentiment is a massive order for more than 50,000 of Canaan’s latest Avalon A15 Pro mining machines, scheduled for delivery in the fourth quarter of 2025. This news propelled the share price to approximately $1.32, marking the most significant single-day percentage gain the stock has seen in several years. The A15 Pro models are widely recognized for their superior efficiency and reliability within their category, which are critical considerations for institutional miners focused on optimizing electricity expenses and overall mining profitability.

Key details of the transaction include:
* Provision of over 10 exahashes per second of computational power to the Bitcoin network upon full deployment.
* Recognition as the largest single order received by Canaan in more than three years.
* Delivery set for Q4 2025, positioning the hardware to be operational ahead of the next Bitcoin halving event.

Strategic Initiatives Gain Traction

This landmark sale follows recent strategic moves by Canaan that are beginning to yield results. In late September, the company announced a collaboration with Soluna Holdings for the installation of 20 megawatts worth of Avalon A15 XP Bitcoin miners at the wind-powered Project Dorothy data center in Texas.

Should investors sell immediately? Or is it worth buying Canaan?

Earlier that same month, a partnership with Luxor Technology Corporation was formed to provide flexible financing options for purchasers of Canaan’s mining hardware. This alliance had already facilitated a precursor deal in August, with the sale of over 5,000 Avalon A15 Pro units to an institutional miner in the U.S.

Solid Fundamentals Support the Momentum

The company’s recent financial performance provides a fundamental backdrop for the optimistic market movement. For the second quarter of 2025, Canaan reported revenue of $100.2 million, representing a substantial 39.5% increase compared to the same period the previous year. The company’s proprietary mining segment was particularly impressive, achieving record revenue of $28.1 million.

Furthermore, Canaan’s operational metrics showed strong growth, with its Bitcoin production climbing 10% month-over-month in August. The firm’s holdings of digital assets also grew, with its treasury balance reaching 1,547 Bitcoin as of August 31, 2025.

This positive performance appears to validate the strategic shift the company implemented in June 2025, which refocused its business model around three core pillars: the sale of mining machines, its own mining operations, and consumer-facing products.