Canaan (CAN) to Produce Round 6,840 Avalon A15Pro Miners for Cipher Mining

Canaan Inc. (NASDAQ:CAN) is likely one of the prime bitcoin mining shares to purchase amid bitcoin hike. On July 17, Canaan Inc. (NASDAQ:CAN) introduced that its US subsidiary entered into a purchase order settlement with Cipher Mining for the availability of round 6,840 Avalon A15Pro miners to the latter’s Black Pearl facility in Q3 2025. The items could be fulfilled by Canaan Inc.’s (NASDAQ:CAN) Malaysian and US amenities.

A detailed up view of a ultimate mining gear utilized in bitcoin mining.

The settlement is critical as a result of it marks Canaan Inc.’s (NASDAQ:CAN) first-ever main initiative to supply large-scale home manufacturing help for US-based bitcoin mining clients. This displays rising demand amid bitcoin’s renewed momentum and the unlocking of extra energy sources.

Canaan Inc. (NASDAQ:CAN) is a holding firm that develops and sells Bitcoin mining machines and associated providers. It focuses on inexperienced mining. The corporate additionally designs, researches, and sells built-in circuits (ICs) and leases mining gear by integrating IC merchandise for Bitcoin mining and associated elements in China.

Whereas we acknowledge the potential of CAN as an funding, we imagine sure AI shares provide larger upside potential and carry much less draw back threat. For those who’re in search of an especially undervalued AI inventory that additionally stands to learn considerably from Trump-era tariffs and the onshoring development, see our free report on the greatest short-term AI inventory.

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Disclosure: None. This text is initially revealed at Insider Monkey.