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 extra module quantity, signaling potential multi-phase enlargement of the partnership.
Canaan Targets Large Miners With Avalon Modules in Tether Deal
The settlement builds on a proof-of-concept R&D challenge accomplished in 2025, wherein 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 transferring 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 elements kind self-contained mining models with direct system-level integration.
The modular design separates the compute layer from the ability provide and enclosure elements. That break up reduces infrastructure complexity, allows dynamic hash fee management, and helps optimized thermal administration in immersion-cooled environments.
Canaan CEO Nangeng Zhang mentioned demand is shifting towards {hardware} constructed for direct integration into customer-designed programs. “Leveraging our sturdy ASIC design experience and versatile improvement platform, we’re delivering personalized hash board options that allow companions to optimize system structure on the part stage,” Zhang mentioned. He added that the Avalon hash board allows on-demand deployment whereas reducing operational complexity, significantly in immersion cooling setups.
Tether CEO Paolo Ardoino pointed to the bounds of conventional mining infrastructure. “Most mining infrastructure continues to be constructed as sealed, fastened models, which makes it costly to scale and inefficient to run,” Ardoino mentioned. Tether‘s method, he defined, facilities on modular compute that may be tuned, upgraded, and cooled independently so the corporate can management price and efficiency at scale.
ACME Swisstech President Giv Zanganeh mentioned the three-way collaboration allowed the crew to take a holistic, industrial co-design method aimed toward large-scale operations, diverging from the plug-and-play, retail-oriented merchandise frequent in in the present day’s market.
The Modules are constructed round Canaan’s superior ASIC chips and kind 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 main use case.
The deal additionally contains an possibility for Tether to buy extra module quantity in future phases, which might help expanded deployments as operations scale.
Canaan has been listed on the Nasdaq International 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 underneath the Avalon model.
Tether is greatest 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 improvement.
The Canaan-Tether collaboration displays rising operator demand for component-level management over mining infrastructure, a shift away from standardized, fastened {hardware} towards programs constructed round high-performance compute constructing blocks.
