I just saw that Canaan got involved with Cipher Mining. The Texas mining company sold 49% to them for nearly $40 million in shares. Interesting move, because Canaan is better known for making chips and equipment, so this is a shift toward the operational side of mining.

I don't know, but it seems like manufacturers like Canaan are looking to diversify. Instead of just selling hardware, now they want a stake in actual operations. Cipher Mining has operations in West Texas, which is a major mining area in the United States.

The thing is, Canaan is investing $39.75 million in shares, not cash. That says something about how they view the value of both companies. Do you think this is the start of a trend where manufacturers also become operators?