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 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, 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 methods. Collectively, these parts type self-contained mining items with direct system-level integration.
The modular design separates the compute layer from the facility provide and enclosure parts. That break up reduces infrastructure complexity, allows dynamic hash price 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 methods. “Leveraging our robust ASIC design experience and versatile improvement platform, we’re delivering custom-made hash board options that allow companions to optimize system structure on the element 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 boundaries of conventional mining infrastructure. “Most mining infrastructure continues to be constructed as sealed, fastened items, which makes it costly to scale and inefficient to run,” Ardoino mentioned. Tether‘s strategy, 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 group to take a holistic, industrial co-design strategy aimed toward large-scale operations, diverging from the plug-and-play, retail-oriented merchandise frequent in at the moment’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 methods, with immersion-cooled deployments as a main use case.
The deal additionally consists of an choice 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 group shipped the primary batch of machines below the Avalon model.
Tether is greatest referred to 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 methods constructed round high-performance compute constructing blocks.
