Latest news with #AvalonA15Pro
Yahoo
6 days ago
- Business
- Yahoo
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. Why Is Core Scientific Inc (CORZ) Plunging In 2025? A close up view of a final mining equipment used in bitcoin mining. 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. While we acknowledge the potential of CAN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Business Insider
18-07-2025
- Business
- Business Insider
Canaan to produce A15Pro Miners for Cipher Mining
Canaan's (CAN) U.S. subsidiary has entered into a purchase agreement with Cipher Mining (CIFR) to supply approximately 6,840 Avalon A15Pro miners to Cipher's Black Pearl facility in Q3. The units will be fulfilled by Canaan's U.S. and Malaysian facilities. This agreement marks Canaan's first major initiative to offer large-scale domestic manufacturing support for U.S.-based bitcoin mining customers. The miners are expected to be deployed at Cipher's Black Pearl facility. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
