Key Takeaways:
Canaan secured a follow-on order from Tether for customized hash board modules deploying to South America in 2026. The modular system, co-designed with ACME Swisstech, cuts operational complexity and boosts compute density for large-scale immersion-cooled mining. Tether holds an choice to buy further module quantity, signaling potential multi-phase growth of the partnership.
Canaan Targets Huge Miners With Avalon Modules in Tether Deal
The settlement builds on a proof-of-concept R&D venture accomplished in 2025, during which Canaan (Nasdaq: CAN) and Tether labored alongside ACME Swisstech, a Swiss-based agency targeted on industrial mining system design. That earlier collaboration produced the modular structure now shifting into manufacturing.
Beneath the 2025 framework, Canaan developed the hash board modules and supported Tether in constructing customized management boards and mining administration programs. Collectively, these parts type self-contained mining models with direct system-level integration.
The modular design separates the compute layer from the facility provide and enclosure parts. That cut up reduces infrastructure complexity, permits dynamic hash fee management, and helps optimized thermal administration in immersion-cooled environments.
Canaan CEO Nangeng Zhang stated demand is shifting towards {hardware} constructed for direct integration into customer-designed programs. “Leveraging our robust ASIC design experience and versatile growth platform, we’re delivering personalized hash board options that allow companions to optimize system structure on the element degree,” Zhang stated. He added that the Avalon hash board permits on-demand deployment whereas chopping operational complexity, notably in immersion cooling setups.
Tether CEO Paolo Ardoino pointed to the boundaries of conventional mining infrastructure. “Most mining infrastructure remains to be constructed as sealed, mounted models, which makes it costly to scale and inefficient to run,” Ardoino stated. Tether‘s strategy, he defined, facilities on modular compute that may be tuned, upgraded, and cooled independently so the corporate can management value and efficiency at scale.
ACME Swisstech President Giv Zanganeh stated the three-way collaboration allowed the crew to take a holistic, industrial co-design strategy geared toward large-scale operations, diverging from the plug-and-play, retail-oriented merchandise widespread in at present’s market.
The Modules are constructed round Canaan’s superior ASIC chips and type a part of the corporate’s next-generation modular mining and compute {hardware} platform. Canaan positions the platform for versatile integration into partner-designed programs, with immersion-cooled deployments as a major use case.
The deal additionally consists of an possibility for Tether to buy further module quantity in future phases, which might assist expanded deployments as operations scale.
Canaan has been listed on the Nasdaq World Market since its IPO in 2019. The corporate traces its historical past in ASIC mining {hardware} again to 2013, when its founding crew shipped the primary batch of machines beneath the Avalon model.
Tether is finest often known as the issuer of USDT, the world’s largest stablecoin by market capitalization. The corporate has prolonged its operations into bitcoin mining infrastructure lately, together with open-source mining software program growth.
The Canaan-Tether collaboration displays rising operator demand for component-level management over mining infrastructure, a shift away from standardized, mounted {hardware} towards programs constructed round high-performance compute constructing blocks.
