Tether Picks Canaan Modules to Power Immersion Mining Sites

Key Takeaways:

• Canaan secured a follow-on bid from Tether for customized hash committee modules deploying to South America successful 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 enactment to acquisition further module volume, signaling imaginable multi-phase enlargement of the partnership.

Canaan Targets Big Miners With Avalon Modules successful Tether Deal

The agreement builds connected a proof-of-concept R&D task completed successful 2025, successful which Canaan (Nasdaq: CAN) and Tether worked alongside ACME Swisstech, a Swiss-based steadfast focused connected concern mining strategy design. That earlier collaboration produced the modular architecture present moving into production.

Under the 2025 framework, Canaan developed the hash committee modules and supported Tether successful gathering customized power boards and mining absorption systems. Together, those components signifier self-contained mining units with nonstop system-level integration.

The modular plan separates the compute furniture from the powerfulness proviso and enclosure components. That divided reduces infrastructure complexity, enables dynamic hash complaint control, and supports optimized thermal absorption successful immersion-cooled environments.

Canaan CEO Nangeng Zhang said request is shifting toward hardware built for nonstop integration into customer-designed systems. “Leveraging our beardown ASIC plan expertise and flexible improvement platform, we are delivering customized hash committee solutions that alteration partners to optimize strategy architecture astatine the constituent level,” Zhang said. He added that the Avalon hash committee enables on-demand deployment portion cutting operational complexity, peculiarly successful immersion cooling setups.

Tether CEO Paolo Ardoino pointed to the limits of accepted mining infrastructure. “Most mining infrastructure is inactive built arsenic sealed, fixed units, which makes it costly to standard and inefficient to run,” Ardoino said. Tether‘s approach, helium explained, centers connected modular compute that tin beryllium tuned, upgraded, and cooled independently truthful the institution tin power outgo and show astatine scale.

ACME Swisstech President Giv Zanganeh said the three-way collaboration allowed the squad to instrumentality a holistic, concern co-design attack aimed astatine large-scale operations, diverging from the plug-and-play, retail-oriented products communal successful today’s market.

The Modules are built astir Canaan’s precocious ASIC chips and signifier portion of the company’s next-generation modular mining and compute hardware platform. Canaan positions the level for flexible integration into partner-designed systems, with immersion-cooled deployments arsenic a superior usage case.

The woody besides includes an enactment for Tether to acquisition further module volume successful aboriginal phases, which could enactment expanded deployments arsenic operations scale.

Canaan has been listed connected the Nasdaq Global Market since its IPO successful 2019. The institution traces its past successful ASIC mining hardware backmost to 2013, erstwhile its founding squad shipped the archetypal batch of machines nether the Avalon brand.

Tether is champion known arsenic the issuer of USDT, the world’s largest stablecoin by marketplace capitalization. The institution has extended its operations into bitcoin mining infrastructure successful caller years, including open-source mining bundle development.

The Canaan-Tether collaboration reflects increasing relation request for component-level power implicit mining infrastructure, a displacement distant from standardized, fixed hardware toward systems built astir high-performance compute gathering blocks.