Canaan Inc. shares rushed more than 26% in early trading on Thursday after Crypto Mining Firm landed an order for 50,000 rigs.
Canaan said the US-based company has purchased the latest generation “Avalon A15 Pro” mining machine, an agency-grade Bitcoin mining rig. The buyer has not been revealed, but the sale was reported as Canaan’s biggest in over three years.
The company’s CEO Nanangeng Zhang said the sale highlighted Bitcoin mining’s “trust in long-term growth” and “demand for a highly efficient next-generation infrastructure.”
According to the Hash Rate Index, the US accounted for 36% of the global Bitcoin hashrate. This is the sum of the computing power used to protect your network, making it the world’s largest mining hub.
According to Yahoo Finance, Canaan, a Crypto Mining Hardware Company founded in Beijing in 2013, rose 26.4% at $1.31 on Nasdaq at the time of writing.
Stocks have grown by more than 50% in the past six months, experiencing a 40% decline per year.
Bitcoin mining status
Bitcoin mining uses computing power to validate transactions, add new blocks to the blockchain, rewarding miners with newly created Bitcoin while keeping the network safe.
This process cycles new coins, but gets more intense over time as the network causes difficulties about every two weeks or every 2,016 blocks, half blocking rewards about every four years.
In August 2025, mining difficulties reached a record 127.6 trillion, before once again on September 5th, it reached 134.7 trillion. On Thursday, the difficulty rose to 150.84 trillion, indicating that Bitcoin is more difficult to delve into than ever before.
The increased difficulty and associated costs have driven out some players. In June 2025, BIT Digital said it would shut down its Bitcoin mining operations and shift its Ethereum financial strategy.
“Bitcoin mining will die in two years,” company CEO Sam Taver told Cointerlegraph, adding that “there is no way for mining to survive another half.”
The difficulty of mining Bitcoin also led to an increase in advantages from large institutional miners. A recent report from Minor Mag shows that the top four public miners (Mara, Aylen, Kango and Clean Spark) accounted for 19.07% of the block’s total compensation in July.
Still, solo miners can still be able to minify blocks well. On July 3rd, the Solo Miner produced blocks 903,883, earning nearly $350,000 from the block rewards, and earning transaction fees paid by users to ensure faster confirmations.
A few weeks later, the second solo miner collected rewards of over $373,000 based on the price of Bitcoin the day after mining block 907,283.
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