Canaan (CAN) to Produce Around 6,840 Avalon A15Pro Miners for Cipher Mining
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.
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