Canaan Inc. stocks jumped by more than 26% during early Thursday trading after the crypto-mining firm received a large order of 50,000 rigs.
Canaan said The latest-generation of the product was purchased by a US company “Avalon A15 Pro” Mining machines of institutional grade Bitcoin mining equipment. Canaan did not disclose the buyer, but reported that this was their largest sale in more than three years.
Nangeng Zhang said that the company’s CEO said this sale highlights both companies’ “confidence in the long-term growth” Bitcoin Mining and its Benefits “demand for highly efficient, next-generation infrastructure.”
According to the Hashrate Index, the United States accounted for 36% of the global Bitcoin hashrate — the total computing power miners use to secure the network, making it the world’s largest mining hub.
Canaan is a Beijing-based crypto mining company that was founded in 2013. At the time this article was written, its Nasdaq shares were up by 26.4% to $1.31. according Yahoo Finance
In the past six-months, shares of this company have increased more than 50%. Year-to-date however, there has been a decline of 40%.
Bitcoin Mining: The State of the Industry
The Bitcoin blockchain is updated by mining bitcoins. rewarding miners with newly minted Bitcoin While maintaining the security of your network.
This process introduces new coins to circulation, but it becomes more difficult over time, as the difficulty of the network increases every 2 weeks or 2,016 blocks, while block rewards are halved every 4 years.
In August 2025 mining difficulty hit a record The difficulty rate rose to 127.6 billion, then again to 134.7 on September 5. This rate increased to 150.84 trillion on Thursday. It indicates that Bitcoin will be more difficult to use. mine Today, it is more than ever before.
Some players have been forced out by the rising costs and difficulty. Bit Digital has announced it will close its online service in 2025. Bitcoin mining operations The shift to an Ethereum Treasury strategy.
Sam Tabar was the company’s chief executive officer. told Cointelegraph The word “that” is a phrase that means, “that which”. “Bitcoin mining industry is going to be dead in two years,” Add to that “there’s no way the mining industry can survive another halving.”
Large institutional miners have also become more dominant due to the difficulty in mining Bitcoin. The recent study by the University of California, Berkeley found that large institutional miners are now dominating Bitcoin mining. report from The Miner Mag showed that the top four public miners — MARA, IREN, Cango, and CleanSpark — accounted for 19.07% of the total block rewards in July.
Solo miners can still mine some blocks. A solo miner earned nearly $1,000 for producing block 903,883 on July 3. $350,000 from the block reward Users can also pay transaction fees to receive faster confirmation.
Few weeks later, another solo miner collected over $373,000 in rewards The price was calculated based on Bitcoin’s value the day following block 907283.
Magazine: Bitcoin vs. the quantum computer threat — Timeline and solutions (2025–2035)
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Source: cointelegraph.com
