Canaan and 30k-Unit Option: Deal Struck with AGM Group

In late 2024, Canaan inked an agreement with AGM Group Holdings to supply 2k Avalon A15 Hydro machines, alongside an option for up to 30k additional units totaling over 300 MW in power consumption. Market insiders estimate Canaan could earn more than $85 mln if AGM exercises the full purchase.

AGM Group previously collaborated with various mining hardware providers, but this large-scale order signals a push to rank among the top five miners in the region. The initial 2k units are expected to yield about 414 PH/s. The A15 Hydro’s liquid cooling system keeps noise around 30 dB and cuts power use by 10–12%.

According to industry reports, if AGM fully acquires all A15 Hydro units, they could generate over 63 BTC per month. Part of that revenue is slated for building new data centers aimed at servicing third-party blockchain initiatives.