Canaan Inc. had secured a follow-on order from Tether for high-density mining hash board modules (the "Modules"). These Modules were custom-developed by Canaan to support Tether's next-generation immersion-cooled mining and compute systems. The agreement follows a successful proof-of-concept (POC) R&D project in 2025 in collaboration with Tether and ACME Swisstech, a Swiss based R&D company developing innovative mining system solutions. The follow-on order will be deployed to a Tether-affiliated mining facility in South America.
Under the 2025 framework agreement, Canaan developed the Modules and provided support for Tether's development of their custom control boards and mining management systems. These components integrate the Modules into self-contained mining units with direct system-level integration. This architecture simplifies infrastructure and operations while enabling optimized thermal management, dynamic hash rate control, and increased compute density. The Modules form part of Canaan's next-generation modular mining and compute hardware platform built around its advanced ASIC chips.
This approach enables flexible integration into partner-designed systems, particularly for immersion-cooled deployments. The system designed by ACME Swisstech integrates Canaan's modular platform to deliver an innovative, integrated bitcoin mining solution that offers several advantages over traditional mining system designs by decoupling the compute layer from power supply and enclosure components, including improved efficiency, reliability, and uptime in large-scale operations. The agreement also includes an option for Tether to purchase additional module volume in future phases, supporting potential expansion as deployments scale.
The collaboration reflects a broader trend toward partner-driven, modular mining architectures, where infrastructure operators design optimized systems around high-performance compute building blocks.
