Canaan Inc. to Supply 6,840 Avalon A15Pro Miners to Cipher Mining's Black Pearl Facility

Strategic Insights -

Canaan Inc., a leading innovator in crypto mining, has announced a significant partnership with Cipher Mining Inc. to supply approximately 6,840 Avalon A15Pro miners to Cipher's Black Pearl facility in the third quarter of 2025. This agreement marks Canaan's first major initiative to offer large-scale domestic manufacturing support for U.S.-based bitcoin mining customers, underscoring growing demand amid bitcoin's renewed momentum and the unlocking of additional power sources. The Company's regionally adaptive logistics and customer fulfillment strategies continue to play a critical role in its global growth.

Key Takeaways:

  • Canaan Inc. has entered into a purchase agreement with Cipher Mining Inc. to supply approximately 6,840 Avalon A15Pro miners to Cipher's Black Pearl facility in the third quarter of 2025.
  • The units will be fulfilled by Canaan's U.S. and Malaysian facilities, marking Canaan's first major initiative to offer large-scale domestic manufacturing support for U.S.-based bitcoin mining customers.
  • The agreement underscores growing demand for bitcoin mining amid the cryptocurrency's renewed momentum and the unlocking of additional power sources.
  • The Avalon A15Pro miners deliver an average hash rate of 221 terahashes per second (TH/s) with a power efficiency of approximately 16.6 joules per terahash (J/TH).
  • This partnership marks Cipher's fourth order with Canaan, demonstrating a strong vote of confidence in the company's technology and team.
  • Nangeng Zhang, chairman and chief executive officer of Canaan, emphasizes the importance of rapid deployment, return on investment, and reliability in the current market landscape.

Statistics:

  • 6,840 Avalon A15Pro miners to be supplied to Cipher's Black Pearl facility.
  • Third quarter of 2025 as the delivery timeline.
  • 6,840 miners accounted for by Canaan's U.S. and Malaysian facilities.
  • Average hash rate of 221 terahashes per second (TH/s) for each Avalon A15Pro miner.
  • Power efficiency of approximately 16.6 joules per terahash (J/TH) for each Avalon A15Pro miner.

Sources:

  • Canaan Inc. news release, undated.
  • Cipher Mining Inc. news release ( announcing the exercise of an option in June 2024).