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Canaan receives a new order from Tether, supplying immersion-cooled Bitcoin mining hardware
ChainCatcher News: On Tuesday, Bitcoin mining rig manufacturer Canaan (Nasdaq ticker: CAN) announced that it has received a new batch of customized Bitcoin mining hardware orders from Tether. The orders will supply high-density hash rate board modules designed specifically for immersion cooling systems, which are planned to be deployed at Tether’s affiliated facilities in South America.
This cooperation continues the two parties’ 2025 research and development partnership with ACME Swisstech, which has already produced a proof-of-concept platform to improve mining efficiency and scalability. Tether is also developing its own control boards and management software, showing that it is pushing for deep integration between mining hardware and software. The agreement includes additional procurement options, keeping flexibility for Tether to expand its infrastructure.
One day before the news was released, Tether had just announced the launch of an open-source mining framework, further expanding its footprint in Bitcoin mining infrastructure. Canaan, a Singapore-listed company, currently holds 1,808 BTC, worth approximately $137 million, representing its highest-ever holdings.