Canaan Creative
Canaan Creative designs and manufactures ASIC Bitcoin mining hardware under the Avalon brand and operates vertically integrated self-mining operations, serving home miners, commercial farm operators, and institutional energy-integrated compute customers across global markets.
- Company typePublic
- Founded2013
- HeadquartersBeijing, China
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingHardware or Manufacturing
What Canaan Creative does
Canaan Creative (NASDAQ: CAN) is a Singapore-incorporated, vertically integrated cryptocurrency mining technology company founded in 2013 and listed on NASDAQ in 2019. The company designs and manufactures ASIC Bitcoin mining hardware under the Avalon brand, including the flagship Avalon Miner series (A16 at 300 TH/s, A15, A14, A13), home-mining products (AvalonQ, Avalon Nano 3S, Avalon Mini 3), and containerized Avalon Box solutions offering air, immersion, and hydro cooling configurations. Beyond hardware, Canaan operates its own deployed hashrate (14.75 EH/s as of February 2026) and runs a cryptocurrency treasury holding 1,808 BTC and 3,952 ETH as of March 2026. The company holds proprietary ASIC chip architecture and is positioned as the creator of the world's first ASIC Bitcoin miner.
Canaan generates revenue through three primary streams: mining equipment sales (Q4 2025 record of $118.6 million from 14.6 EH/s sold), self-mining operations (Q4 2025 BTC mining revenue of $30.4 million, up 98.5% YoY), and energy-infrastructure joint ventures such as the 49% stake in Cipher Mining's three West Texas projects (4.4 EH/s, 120 MW at sub-$0.03/kWh). The go-to-market combines direct-to-consumer e-commerce (shop.canaan.io with publicly disclosed unit pricing), authorized distributor partnerships (Altair Technology in North America), direct enterprise sales for bulk orders (a 50,000+ Avalon A15 Pro order from an unnamed U.S. miner in Q4 2025), and OEM/embedded supply of custom hash board modules (Tether partnership for South American immersion-cooled facilities).
Strategic positioning has shifted from pure hardware vendor toward an energy-integrated compute platform, with deployments spanning Nordic district heating (8 MW serving 2,800 homes via hydro-cooled units), Manitoba greenhouse heat recovery (3 MW, 90% heat capture), and Alberta gas-to-computing pilots. Customer segments range from home hobbyist miners and large-scale commercial farm operators to institutional mining companies and energy infrastructure players. Recent strategic capital actions include a $72 million registered direct offering in November 2025 (Brevan Howard, Galaxy Digital, Weiss Asset Management), an insider purchase by CEO Nangeng Zhang and CFO Jin Cheng in March 2026, and a $39.75 million share-funded acquisition of the Cipher Mining West Texas joint venture stake.
Canaan Creative firmographics
Firmographics- Name
- Canaan Creative
- Legal name
- Canaan Creative Global PTE. Ltd.
- Website
- https://canaan.io
- Company type
- Public
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Canaan Creative designs and manufactures ASIC Bitcoin mining hardware under the Avalon brand and operates vertically integrated self-mining operations, serving home miners, commercial farm operators, and institutional energy-integrated compute customers across global markets.
- Ownership category
- akta.pro rank
Canaan Creative industry classification
Industry- Product category
- Cryptocurrency Mining Hardware
- NAICS
- Mining Machinery and Equipment Manufacturing (333131), Mining and Oil and Gas Field Machinery Manufacturing (33313)
- SIC
- Mining Machinery & Equip (No Oil & Gas Field Mach & Equip) (3532), Construction, Mining & Materials Handling Machinery & Equip (3530)
- akta.pro primary industry
- Mining Hardware (ASIC/GPU) Manufacturing & Distribution (FSADAOAD)
Keywords
Where Canaan Creative is headquartered
LocationHeadquarters
- HQ city
- Beijing
- HQ country
- China
- HQ region
- Asia
Offices5 records
Markets served
Canaan Creative business model
Business model- GTM type
- B2B and B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Supply Chain, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Mining Equipment Sales: Sale of ASIC Bitcoin mining hardware including Avalon Miner series (A16, A15, A14, A13), Avalon Home products (AvalonQ, Avalon Nano 3S, Avalon Mini 3), and Avalon Box containerized solutions (immersion, air cooling, hydro cooling). Generated $118.6 million from record ASIC miner sales of 14.6 EH/s in Q4 2025, including a landmark order for over 50,000 Avalon A15 Pro mining machines from a U.S.-based bitcoin miner.
- Bitcoin Mining Operations: Self-mining operations generating Bitcoin revenue. The company expanded hashrate to 14.75 EH/s through deployment of mining rigs and acquisition of joint venture capacity. Generated $30.4 million in BTC mining revenue in Q4 2025 (98.5% YoY growth). Company holds cryptocurrency treasury of 1,808 BTC and 3,952 ETH as of March 2026.
- Mining Solutions Services: Joint mining programs, farm cooperation hosting, and mining finance services offered through the company's mining solution platform, enabling customers to participate in mining operations.
- Energy Infrastructure: Acquisition of Cipher Mining's 49% stake in three West Texas joint venture projects (ABC Projects) totaling 4.4 EH/s capacity, with power rates below $0.03 per kWh on ERCOT grid. Company expanded North American power capacity by 120 MW.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Pay-as-you-go | Avalon Nano 3S - Entry-level home miner |
| One time/ perpetual license | Pay-as-you-go | Avalon Mini 3 - Home mining device |
| One time/ perpetual license | Pay-as-you-go | AvalonQ - Home mining device |
| One time/ perpetual license | Pay-as-you-go | Avalon Miner A15Pro-221T - Commercial miner |
| One time/ perpetual license | Pay-as-you-go | Avalon Miner A16-282T - High-performance miner |
| One time/ perpetual license | Pay-as-you-go | Avalon Miner A16XP-300T - Flagship miner |
| One time/ perpetual license | Pay-as-you-go | Avalon Air Cooling Mining Box - 20ft container |
| One time/ perpetual license | Pay-as-you-go | Avalon Air Cooling Mining Box - 40ft container |
| One time/ perpetual license | Pay-as-you-go | Avalon Immersion Cooling Mining Box - 40ft container |
| One time/ perpetual license | Pay-as-you-go | Enterprise Bulk Orders |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
Canaan Creative product offering
Product offeringCore offering
Canaan designs, manufactures, and sells ASIC Bitcoin mining hardware and containerized mining infrastructure under the Avalon brand. Its portfolio spans home miners (AvalonQ, Nano 3S, Mini 3), commercial ASIC miners (A15 and A16 series up to 300 TH/s), and Avalon Box air/immersion/hydro cooling container solutions, complemented by mining solutions services (joint mining, farm hosting, mining finance) and self-mining operations.
Product overview
Canaan Creative is a cryptocurrency mining technology company offering a comprehensive portfolio of Bitcoin ASIC mining hardware and infrastructure solutions. The product lineup includes the Avalon Miner series (A16, A15 models) for commercial and large-scale mining operations, Avalon Home products (AvalonQ, Avalon Nano 3S, Avalon Mini 3) for residential miners, and Avalon Box containerized mining solutions featuring immersion, air, and hydro cooling technologies. The company also provides custom hash board modules for specialized mining deployments and Canaan Mine Master management software for monitoring and controlling mining operations. Canaan positions itself as a vertically integrated mining solutions provider, combining hardware manufacturing with cooling technology and software management tools.
Differentiator
Problem solved
Functional benefit
Brands
- Avalon: The company's flagship line of Bitcoin mining hardware products, including Avalon Miner, Avalon Home (home miners like Avalon Nano 3S, AvalonQ), and Avalon Box (mining container solutions with air, immersion, and hydro cooling).
Products and services
- Avalon Miner A16-282T High-performance Bitcoin ASIC miner delivering 282 TH/s at $13/T hashrate, designed for large-scale commercial mining operations.
- Avalon Miner A16XP-300T Flagship Bitcoin ASIC miner delivering 300 TH/s with 12.8 J/TH energy efficiency, priced at $4,800 per unit ($16/T hashrate).
- Avalon Miner A15Pro-221T Production-grade Bitcoin ASIC miner offering 221 TH/s at $8.8/T hashrate, used in bulk orders such as the 50,000+ machine shipment to a U.S. mining customer.
- AvalonQ Compact home Bitcoin miner priced at $1,850.24, designed for residential use with easy setup and quiet operation.
- Avalon Nano 3S Entry-level USB-C connected home Bitcoin miner delivering 6.68 TH/s at $299 per unit, suitable for beginners and hobbyist miners.
- Avalon Mini 3 Compact home Bitcoin mining device with integrated power supply and cooling, priced at $979.02 per unit.
- Avalon Immersion Cooling Mining Box-40ft 40-foot containerized immersion cooling solution for high-density Bitcoin mining, priced at $180,000 per unit, providing maximum thermal efficiency.
- Avalon Air Cooling Mining Box-40ft 40-foot containerized air-cooled Bitcoin mining solution for large-scale deployments, priced at $27,000 per unit.
- Avalon Hydro Cooling Mining Box-20/40ft Hydro-cooled containerized mining solution offering enhanced thermal efficiency for high-density deployments, available in 20ft and 40ft variants.
- Avalon A1566HA Hydro-Cooled Unit Hydro-cooled Bitcoin mining unit producing approximately 8 MW of heating capacity at around 80°C, designed for integration with Nordic district heating networks serving roughly 2,800 homes.
- Custom Hash Board Modules High-density ASIC hash board modules co-developed with Tether and ACME Swisstech for modular immersion-cooled Bitcoin mining systems deployed at Tether's South American facility.
- Canaan Mine Master Mining farm management and monitoring software for controlling and optimizing large-scale Bitcoin mining operations.
- Mining Solutions Services (Joint Mining, Farm Cooperation Hosting, Mining Finance) Service offerings enabling customers to participate in Bitcoin mining operations through joint mining programs, farm cooperation hosting, and mining finance services.
Quantifiable outcome
- Record Q4 2025 revenue of $196.3 million, up 121.1% YoY
- +5 more outcomes
Companies that use Canaan Creative
Customer profileNamed customers8 records
Segments5 records
Ideal customer profiles4 records
Canaan Creative technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Canaan Creative partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core, strategic and pilot.
- TethercoreFollow-on order from Tether for custom high-density hash board modules designed for immersion-cooled Bitcoin mining systems. Modules built on Canaan's ASIC-based next-generation modular platform for deployment at Tether-affiliated South American facility. Includes option for additional module volume in future phases. Builds on 2025 proof-of-concept R&D collaboration with ACME Swisstech.
- Altair TechnologycoreExpanded partnership making Altair Technology an authorized full-line distributor of Canaan Avalon Bitcoin miners in North America. Agreement gives access to complete product portfolio including Avalon Nano 3S, Avalon Q, and A16 series, backed by manufacturer warranty and factory support. Serves both home miners and large-scale commercial operations from U.S. inventory in Missouri.
- Cipher MiningcoreCanaan acquired Cipher Mining's 49% stake in three operational West Texas mining projects (Alborz LLC, Bear LLC, and Chief Mountain LLC) totaling approximately 4.4 EH/s hashrate capacity and 120 MW power capacity. Deal valued at $39.75 million, including 6,840 Avalon A15Pro mining rigs, financed through $40 million share issuance.
- Bitforest InvestmentstrategicCollaboration on 3 MW heat recovery proof-of-concept project in Manitoba, Canada. 360 liquid-cooled Bitcoin mining servers from Canaan recover 90% of waste heat to warm tomato greenhouses operated by Bitforest, replacing traditional fossil fuel-powered boilers.
- Aurora AZ Energy LtdpilotGas-to-computing pilot mining project in Calgary, Alberta, Canada. Converts wellhead natural gas into low-cost power for high-density computing including bitcoin mining. Aims to reduce CO2 emissions by flaring natural gas.
- Soluna HoldingsstrategicStrategic partnership to deploy renewable-powered mining equipment in Texas. Soluna Holdings is expanding into AI/HPC data centers while leveraging Canaan's mining expertise.
- ACME SwisstechstrategicSwiss R&D company designing integrated housing systems for Tether's modular mining infrastructure. Co-designed hardware stack with Canaan supplying hash boards while Tether built control boards and management systems.
Scale indicators15 records
Recent moves5 records
Expansion highlights6 records
Canaan Creative competitors and assessment
Company assessmentDirect peers
- Bitmain: Bitmain is the world's largest ASIC Bitcoin miner manufacturer (Antminer series) and Canaan's primary direct competitor. Both companies design and sell ASIC mining hardware to overlapping home miner, commercial, and institutional customers globally.
- MicroBT: MicroBT manufactures the WhatsMiner series of ASIC Bitcoin miners and is one of the top two ASIC hardware vendors globally. Competes head-to-head with Canaan in the commercial/enterprise mining segment with comparable efficiency metrics.
- Cipher Mining: Cipher Mining is Canaan's joint venture partner in the West Texas ABC Projects and a publicly traded Bitcoin miner with significant hashrate. Operates in the same ERCOT power market and shares institutional customer relationships.
Broad incumbents
- Marathon Digital Holdings: Marathon Digital is one of the largest publicly traded Bitcoin mining operators with a hashrate materially larger than Canaan's self-mining operations. Both companies are publicly listed, focus on Bitcoin infrastructure, and pursue low-cost power strategies.
- Riot Platforms: Riot Platforms is a major publicly traded Bitcoin miner with vertically integrated operations and significant Texas-based power infrastructure. Operates in the same ERCOT ecosystem as Canaan's ABC Projects and competes for institutional mining customers.
- CleanSpark: CleanSpark is a publicly traded Bitcoin mining operator focused on energy efficiency and renewable-powered mining. Comparable to Canaan's institutional mining segment and shares a similar efficiency-focused market positioning.
- Bitfarms: Bitfarms is a publicly traded Bitcoin mining operator with vertically integrated operations across North and South America. Comparable to Canaan's self-mining and infrastructure segments.
- Hut 8: Hut 8 is a publicly traded digital infrastructure company combining Bitcoin mining with AI/HPC compute services. Comparable vertical integration thesis spanning mining hardware, infrastructure, and adjacent compute verticals.
Emerging players
- Hive Digital Technologies: Hive Digital operates Bitcoin mining and has expanded into AI/HPC compute services, paralleling Canaan's energy-integrated compute strategy. Comparable in scale and emerging compute diversification thesis.
- Bit Digital: Bit Digital is a publicly traded crypto mining and HPC/AI infrastructure company pursuing similar diversification from pure Bitcoin mining into AI compute. Comparable in operational scale and strategic direction.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Canaan Creative social profiles
Digital presenceCanaan Creative financial estimates
Financial estimateRevenue estimate
Valuation estimate
Canaan Creative leadership team
Management profileNumber of profiles
Profiles2 records
Canaan Creative subsidiaries and ownership
Company hierarchySubsidiaries1 record
Canaan Creative funding detail
Funding detailFunding overview
Funding rounds7 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Canaan Creative M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Canaan Creative
What does Canaan Creative do?
Canaan designs, manufactures, and sells ASIC Bitcoin mining hardware and containerized mining infrastructure under the Avalon brand. Its portfolio spans home miners (AvalonQ, Nano 3S, Mini 3), commercial ASIC miners (A15 and A16 series up to 300 TH/s), and Avalon Box air/immersion/hydro cooling container solutions, complemented by mining solutions services (joint mining, farm hosting, mining finance) and self-mining operations.
Is Canaan Creative a public or private company?
Canaan Creative is a public company. It is classified as public and is currently operating.
When was Canaan Creative founded?
Canaan Creative was founded in 2013. It employs 501 to 1,000 people.
Where is Canaan Creative based?
Canaan Creative is headquartered in Beijing, China, in the Asia region.
How does Canaan Creative make money?
Four revenue lines are on record. Mining Equipment Sales are the primary driver. The others are bitcoin Mining Operations, mining Solutions Services and energy Infrastructure.
Who are Canaan Creative's main competitors?
Direct peers on record are Bitmain, MicroBT and Cipher Mining. Broad incumbents are Marathon Digital Holdings, Riot Platforms, CleanSpark, Bitfarms and Hut 8. Emerging players are Hive Digital Technologies and Bit Digital.
Does Canaan Creative have an API?
No public API is recorded for Canaan Creative.
What industry is Canaan Creative in?
Canaan Creative's product category is Cryptocurrency Mining Hardware. Its primary akta.pro industry code is FSADAOAD, Mining Hardware (ASIC/GPU) Manufacturing & Distribution. Its NAICS code is 333131 and its SIC code is 3532.