Canaan Creative Sees Miner Sales Rise Amid Soaring Bitcoin Prices

North American presales are up 17% from February, the firm said.

AccessTimeIconMar 15, 2021 at 12:34 p.m. UTC
Updated May 9, 2023 at 3:17 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Nasdaq-listed Canaan Creative (CAN) says orders for its cryptocurrency mining machines are rising amid sky-high prices for bitcoin.

  • The China-based company said in a statement that presales of mining machines to the North American market have reached about 120,000 units, up 17% from mid-February, according to a Global Times report
  • Canaan had already seen increased demand for its equipment from North America and Central Asia region from late 2020, said the firm in February.
  • Amid a worldwide shortage of processors, the firm had approached a number of fabrication plants in advance, allowing the company to produce products according to market demand, per the report.
  • Bitcoin prices have climbed from around $48,000 in mid-February to a record high of over $61,500 on Saturday, according to the CoinDesk 20. The cryptocurrency took a downturn Monday as institutional investment faded and investors took profits.
  • CoinDesk reached out to Canaan for further details but did not receive a reply by press time.
  • Bitcoin Miner Bitfarms Warns of Default
    04:20
    Bitcoin Miner Bitfarms Warns of Default
  • How Bitcoin Mining Got 'Even More Competitive' In 2022: Analyst
    01:17
    How Bitcoin Mining Got 'Even More Competitive' In 2022: Analyst
  • Stronghold Digital CEO on State of Bitcoin Mining Amid FTX Fallout
    07:43
    Stronghold Digital CEO on State of Bitcoin Mining Amid FTX Fallout
  • Bitcoin Could Rally to $63K by March 2024: Matrixport
    01:11
    Bitcoin Could Rally to $63K by March 2024: Matrixport
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.