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

Canaan Inc. (NASDAQ:CAN) is one of the top bitcoin mining stocks to buy amid bitcoin hike. On July 17, Canaan Inc. (NASDAQ:CAN) announced that its US subsidiary entered into a purchase agreement with Cipher Mining for the supply of around 6,840 Avalon A15Pro miners to the latter’s Black Pearl facility in Q3 2025. The units would be fulfilled by Canaan Inc.’s (NASDAQ:CAN) Malaysian and US facilities.

The agreement is significant because it marks Canaan Inc.’s (NASDAQ:CAN) first-ever major initiative to offer large-scale domestic manufacturing support for US-based bitcoin mining customers. This reflects rising demand amid bitcoin’s renewed momentum and the unlocking of additional power sources.

Canaan Inc. (NASDAQ:CAN) is a holding company that develops and sells Bitcoin mining machines and related services. It specializes in green mining. The company also designs, researches, and sells integrated circuits (ICs) and leases mining equipment by integrating IC products for Bitcoin mining and related components in China.

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Disclosure: None. This article is originally published at Insider Monkey.