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Canaan signs new order with Tether to expand Bitcoin mining infrastructure
CryptoWorld News reports that Canaan (CAN) has signed a new customized Bitcoin mining hardware order with Tether, aimed at expanding its integrated data center-style Bitcoin infrastructure. According to the new order, Canaan will supply high-density hash board modules, planned for use in Tether’s affiliated facilities in South America. This collaboration is based on previous R&D cooperation, intended to improve the efficiency and scalability of mining operations. As the largest stablecoin issuer (USDT), Tether is also developing its own control board and management software, marking a closer integration of hardware and software in its mining operations. The agreement also includes options for additional purchases, providing Tether with flexibility to expand its infrastructure if the new system design performs well. Canaan currently holds 1,808 BTC on its balance sheet, worth approximately $137 million, reaching its highest level of Bitcoin reserves.