24/7 Market News Snapshot 02 October, 2025 – Canaan Inc. American Depositary Shares (NASDAQ:CAN)

October 2, 2025

DENVER, Colo., 02 October, 2025 (www.247marketnews.com) – (NASDAQ:CAN) are discussed in this article.
Canaan Inc., a leader in cryptocurrency mining technology, is experiencing significant momentum as its stock price surged over 27% today, opening at $1.145 and reaching $1.323 in trading. This sharp increase follows a previous close of $1.040, reflecting heightened investor interest and confidence in the company’s potential in the burgeoning blockchain sector, with a trading volume of nearly 33 million shares.

Alongside this bullish market response, Canaan has announced a historic milestone, securing a substantial purchase order for over 50,000 units of its Avalon® A15 Pro bitcoin miners. This represents the largest single order the company has received in the past three years, scheduled for delivery in the fourth quarter of 2025. The order stems from a prominent U.S.-based mining operation, indicating robust confidence in both Canaan’s innovative technology and the prospects for the bitcoin mining industry.

Nangeng Zhang, Chairman and CEO of Canaan, emphasized that this significant order marks a pivotal moment for the company, highlighting the resurgence of the cryptocurrency market. The Avalon A15 Pro is specially designed for optimal performance and efficiency, attributes that are increasingly crucial amid evolving market dynamics. This technology is set to enhance operational capabilities for institutional miners, ensuring they can navigate the complexities of the current landscape effectively.

This landmark transaction not only solidifies Canaan’s standing as a reliable partner for large-scale mining operations but also sets the stage for continued innovation and expansion in the cryptocurrency mining domain. With these promising developments, Canaan Inc. is well-positioned to leverage future opportunities through its commitment to delivering high-quality solutions that facilitate customer success and growth in a rapidly evolving market.

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