Canaan2026-07-24 03:40:15Canaan Expands Texas Footprint With $39.75 Million Bitcoin Mining DealCanaan is acquiring three Texas mining sites and 6,840 Avalon A15Pro miners in a $39.75 million stock-financed deal, adding 120 MW of power capacity and about 4.4 EH/s of potential hash rate.1060
Canaan2026-07-04 04:00:14Canaan Buys Cipher’s Stake in Texas Mining Projects to Expand Low-Cost Power and AI InfrastructureCanaan (CAN) has acquired Cipher Mining Technologies Inc.’s 49% stake in three fully operational West Texas mining projects in a stock-based transaction valued at about $39.75 million. The deal includes interests in Alborz LLC, Bear LLC, and Chief Mountain LLC, which together provide 120 MW of power capacity and 4.4 EH/s of Bitcoin mining hashrate. It also includes 6,840 Avalon A15Pro-AVG-221T miners originally sold by Canaan to Cipher in mid-2025 and deployed at the Black Pearl site, a location now being converted into an AI and high-performance computing data center. The projects benefit from contracted power below 3 cents per kWh within ERCOT, with the Alborz site also integrating off-grid wind energy. Canaan says the acquisition strengthens its control over power infrastructure, supports a shift toward upstream energy exposure, and advances a broader strategy that combines Bitcoin mining with AI/HPC colocation. WindHQ LLC retains a 51% stake in the projects, providing local expertise in wind energy, data centers, and power infrastructure. Management framed the move as a disciplined North American expansion and a step toward scalable, capital-efficient growth in 2026 through partnerships and project-level financing.880
Bitcoin minin2026-07-04 03:30:14Genesis Digital Assets Buys 1,000 Air-Cooled Miners to Expand Texas Bitcoin MiningGenesis Digital Assets Limited (GDA), one of the world’s largest Bitcoin mining companies by hash rate, has signed a purchase agreement with Silicon Valley-based blockchain and AI infrastructure provider Auradine. Under the deal, GDA will receive 1,000 Teraflux AT2880-277 air-cooled Bitcoin miners and deploy them at its 40 MW data center in Glasscock County, Texas. The machines are designed to deliver up to 260 TH/s with energy efficiency as low as 16 J/TH, making them relevant not only for hashrate growth but also for power-cost optimization and large-scale operational stability. Once activated, the miners are expected to participate in Texas’s ERCOT demand response program, allowing the site to support grid stability during periods of peak electricity demand. The announcement also reinforces GDA’s broader U.S. expansion strategy, with Texas remaining a central operating hub because of its renewable energy resources, regulatory alignment with the mining industry, and innovation-friendly environment. For Auradine, the partnership highlights its push to deliver U.S.-based, energy-efficient mining infrastructure. The company had also launched new mining products one month earlier, including high-performance ASIC chips, specialized cooling systems, and integrated modular containers for scalable megawatt-class mining operations.880
Bitcoin minin2026-07-02 20:00:14Canaan Acquires Cipher's 49% Stake in Texas Mining Projects, Expands AI and Power StrategyCanaan (CAN) has acquired Cipher Mining's 49% stake in three West Texas mining projects for approximately $39.75 million in stock, gaining 120 MW of power, 4.4 EH/s of hashrate, and 6,840 Avalon A15Pro miners. The deal features sub-3¢/kWh power costs, off-grid wind, and a pivot toward AI/HPC colocation. Canaan's stock rose 10%, and Cipher becomes a significant shareholder. CEO Nangeng Zhang cites disciplined expansion, while Cipher CEO Tyler Page sees vertical integration as key. The acquisition marks Canaan's shift from asset-light mining to upstream power control, targeting gigawatt-scale growth through 2026.890
