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Canaan Inc. and Cipher Mining Collaborate on A15Pro Supply

Canaan Inc. (NASDAQ: CAN), a leader in crypto mining technology, has made headlines by announcing a pivotal partnership with Cipher Mining, Inc. (NASDAQ: CIFR). This collaboration involves a substantial purchase order for approximately 6,840 Avalon A15Pro miners designed to boost the operational capacity at Cipher's Black Pearl facility. The miners are expected to be delivered during the third quarter of 2025 from Canaan's manufacturing plants in the U.S. and Malaysia.

The Importance of the Purchase Agreement

This agreement is particularly significant as it marks Canaan's first major commitment to provide manufacturing support specifically for U.S.-based bitcoin mining operations. The increased demand for effective and efficient crypto mining solutions comes at a time when bitcoin prices have surged to all-time highs, highlighting the urgency for miners to enhance their operations amidst growing market competition.

Nangeng Zhang, the CEO of Canaan, expressed enthusiasm about the rising demand for their products. He noted that many customers are currently reassessing their supply chain strategies, especially as tariff pressures take center stage. In light of these evolving market dynamics, Canaan has focused on rapid deployment, reliable service, and return on investment as top priorities in order to cater to their global clientele.

Zhang stated, “As customers adapt to tariff pressures, buyers are reassessing their supply chain strategies. Rapid deployment, return on investment, and reliability have once again become key priorities.” This strategic pivot not only underscores Canaan's adaptability but also emphasizes its dedication to solidifying a robust presence in the rapidly changing crypto mining landscape.

Features of the Avalon A15Pro Miners

Cipher Mining secured these high-performance Avalon A15Pro miners through an existing option announced in June 2024. Each unit boasts an impressive average hash rate of 221 terahashes per second (TH/s) while maintaining a power efficiency of approximately 16.6 joules per terahash (J/TH). This combination of performance and efficiency is set to significantly increase the operational capabilities of Cipher's Black Pearl facility, making it a formidable player in the market.

The Growing Partnership

This transaction marks Cipher's fourth order from Canaan, reflecting their growing faith in Canaan’s robust technology and delivery capabilities. The strong partnership signifies confidence in Canaan's ability to deliver high-quality, reliable mining solutions even amid market fluctuations. As cryptocurrency operations expand, Cipher's leadership is well-positioned to utilize these advanced miners to enhance overall performance.

Canaan, founded in 2013, has a storied history in the crypto mining space. They were pioneers in ASIC high-performance computing solutions, and their Avalon series of miners was among the first to introduce ASIC technology into bitcoin mining. This background lays a strong foundation for their current operations and innovations aimed at meeting the increasing demands of the cryptocurrency market.

Conclusion

As the crypto sector continues to evolve, the partnership between Canaan and Cipher Mining serves as a beacon of innovation and strategic collaboration. With Canaan's commitment to advancing mining technology and Cipher's ambition to maximize operational efficiency, their alliance is sure to push the boundaries of what's achievable in bitcoin mining. The future looks bright as they prepare for the deployment of the A15Pro miners, aiming to capitalize on the lucrative bitcoin market and meet the demands of an ever-growing customer base.

For further information about Canaan and its products, visit Canaan Inc..