I just noticed an interesting development in the world of crypto mining. Canaan has just acquired a 49% stake in three mining facilities in Texas for $40 million. This is a serious expansion move that shows how major players are positioning themselves for the long-term outlook.

More details about the deal: it involves three facilities — Alborz, Bear, and Chief Mountain (ABC Projects), which already operate with 120 megawatts of power and provide about 4.4 exahashes per second. WindHQ retains 51%, so the structure remains clean. Additionally, Canaan purchased 6,840 Avalon A15Pro mining rigs, which are planned to be converted into an AI-HPC data center at the Black Pearl site.

This is important because it shows a trend I’ve been observing lately. Miners are no longer just mining Bitcoin — they are building diversified infrastructure for artificial intelligence and cloud services. Margins are tightening, so players are seeking new revenue streams.

Texas is an ideal choice for this. Electricity costs there are below 3 cents per kilowatt-hour, with wind generation, plus integration with ERCOT allows participation in grid demand response programs. This means stable operating costs even amid crypto price fluctuations.

The financing of this deal is interesting — Canaan issued 806 million Class A shares at $0.7394 per ADS with a six-month lock-up. This indicates confidence in the long-term strategy.

By the way, Canaan’s financial results for Q4 2025 were impressive — revenue increased by 121% to $196.3 million, BTC mining income reached $30.4 million, and the treasury grew to 1,750 BTC. The company set a record with a capacity of 14.6 EH/s for the quarter. This shows that even amid market consolidation, companies with the right strategy can grow significantly.

Basically, Canaan’s acquisition in Texas is not just about mining. It’s about controlling high-quality energy infrastructure that can support both traditional mining and future AI service opportunities. The way the company combines low electricity costs, flexible energy models, and readiness for AI tasks creates a long-term competitive advantage.

This move also fits into a broader context — other players are also shifting to AI infrastructure. It’s becoming the new norm in the industry. Whoever controls energy and computational power in the AI world controls the future. Canaan clearly understands this.