Canaan Inc. Expands Partnership with CleanSpark by Supplying New Miners

Canaan Inc. Expands Partnership with CleanSpark

Canaan Inc. (NASDAQ: CAN), a leading innovator in the crypto mining sector, has made headlines once again by announcing its continued collaboration with CleanSpark Inc. (NASDAQ: CLSK). Their latest agreement involves supplying additional Avalon A1566I immersion-cooling miners, a strategic move aimed at enhancing CleanSpark’s mining capabilities in the ever-evolving landscape of cryptocurrency mining.

Details of the Collaboration

On July 31, 2025, Canaan revealed that their U.S. subsidiary had received a significant purchase order from CleanSpark for the Avalon A1566I miners. Each miner boasts a remarkable hashrate of 249 to 267 terahashes per second (TH/s) without overclocking, making them ideal for meeting the growing demands of bitcoin mining. This new order follows an initial order placed by CleanSpark in November 2024 for 3,800 miners, which also performed efficiently with an average hashrate of 249 TH/s.

Nangeng Zhang, chairman and CEO of Canaan, expressed his excitement about the ongoing partnership. "We are thrilled to support CleanSpark as it scales its cutting-edge immersion mining fleet in Norcross, Georgia. Their dedication to maximizing efficiency aligns seamlessly with our mission to innovate and deliver top-tier mining solutions."

The announcement emphasizes Canaan’s commitment to delivering state-of-the-art mining technology, particularly in the North American market. With a focus on empowering partners like CleanSpark, Canaan aims to redefine the cryptocurrency mining experience by providing industry-leading products designed for optimal performance.

The Rise of Immersion-Cooling Mining

Immersion-cooling technology represents a pivotal shift in crypto mining efficiency, offering improved thermal management and prolonged equipment life. This technology decreases overheating risks associated with traditional mining rigs, allowing miners to operate at higher efficiencies and lower energy costs. As the demand for cryptocurrencies continues to rise, companies are eager to adopt innovative mining technologies to remain competitive.

CleanSpark’s investment in Avalon A1566I miners reflects its strategy to enhance fleet efficiency and maximize operational uptime. Zhang reiterated the importance of supporting partners like CleanSpark, stating, "Our aim is to push the boundaries of innovation while meeting the needs of our partners in the fast-paced world of bitcoin mining."

Canaan’s Legacy and Industry Impact

Canaan was founded in 2013 and has since made significant strides in the realm of ASIC (Application-Specific Integrated Circuit) technology, being one of the early adopters to introduce ASIC-based mining machines. The launch of their Avalon brand marked a milestone in bitcoin’s history, delivering the first generation of ASIC miners to customers worldwide.

The company’s success is underscored by its initial public offering on the Nasdaq Global Market in 2019, marking a new chapter in its growth trajectory. Canaan’s dedication to research and development has led to the continued evolution of its products, keeping it at the forefront of technological advancements in mining.

By securing deals with influential mining companies like CleanSpark, Canaan highlights its commitment to innovation and customer success, ensuring that its clients can thrive in an increasingly competitive mining environment.

Conclusion

As the cryptocurrency market evolves, partnerships between industry leaders like Canaan Inc. and CleanSpark pave the way for technological advancements that not only enhance productivity but also solidify their positions in the industry. With Canaan's latest supply of Avalon A1566I miners, CleanSpark significantly boosts its operational capabilities, reaffirming its stance as a prominent player in the bitcoin mining space.

Canaan continues to explore groundbreaking possibilities in mining technology, ensuring that as the market demands grow, so too does their resolve to innovate and support their partners’ growth strategies. As they look toward the future, both Canaan and CleanSpark are poised to lead the charge in the next phase of cryptocurrency mining.