Luxor, Canaan Team up on Financing for 5,000+ Avalon A15 Pro Miners

Canaan Inc. has partnered with Luxor Technology Corporation to provide financing for bitcoin mining machines, beginning with a deal that enabled an unnamed U.S. institutional miner to acquire more than 5,000 Avalon A15 Pro rigs in August.

Canaan Taps Luxor for Non-Dilutive Financing as Institutional Miner Buys 5,000+ Rigs

Canaan disclosed on Monday that the arrangement allows Luxor to directly offer its mining customers non-dilutive financing at competitive rates with comparatively low collateral requirements. The companies framed the move as a way to make equipment purchases more accessible for institutional operators while aligning hardware supply with projected revenue and cash flow from mining.

The initial transaction involved the Avalon A15 Pro, Canaan’s latest application-specific integrated circuit (ASIC) model designed to maximize terahash output per unit of energy consumed. Canaan said the A15 Pro’s efficiency and uptime are aimed at helping large-scale miners manage power costs—a central input for mining profitability—and maintain competitiveness during market cycles.

“By partnering with Luxor, we are not only expanding institutional adoption of our A15 Pro series, but also enabling miners to scale responsibly,” Canaan Chairman and CEO Nangeng Zhang said in a statement. The company added that the collaboration fits its broader strategy of leveraging ASIC design and manufacturing, self-mining, and bitcoin treasury management to support long-term growth.

Luxor, known for its mining pool, mining infrastructure services, ASIC trading desk, firmware (LuxOS), and hashrate data platform, said it is extending its financial services to give Canaan customers more options to fund machine purchases.

“We think it’s important that Canaan’s customers have more financing options,” said Matthew Williams, Luxor’s head of financial services, adding that the firm aims to help miners expand operations and navigate industry cycles with greater resilience.

Both companies indicated the August purchase could lead to additional sales under the new program. Neither party disclosed pricing, counterparty identity, or specific financing terms, beyond characterizing the structures as flexible and geared toward institutional use.