Why Canaan Stock Spiked Higher Today

Why Canaan Stock Spiked Higher Today
Jon Quast, The Motley Fool
·2 min read

Shares of Canaan (NASDAQ: CAN), a company that manufacturers equipment for mining cryptocurrencies, spiked higher on Wednesday after the company announced a big order from a customer. According to a direct communication from a consultant for the company, Canaan has made a big sale to a company called Mawson Infrastructure Group. Mawson Infrastructure is buying 11,760 of Canaan's A1246 ASIC AvalonMiners -- its latest model.