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I just saw the news that Canaan bought a 49% stake in Cipher Mining's mining projects in Texas, worth about $39.75 million. Strange, Canaan is investing in these projects called Alborz, Bear, and Chief Mountain.
It's interesting that these three projects combined have a capacity of 120 MW, currently mining at around 4.4 EH/s. Additionally, Canaan has purchased nearly 7,000 Avalon A15Pro machines. It seems like Canaan is expanding strongly in Texas.
It looks like the mining industry is making some big moves. What do you think Canaan is preparing next? Are you following this development?