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