Canaan Inc. Extends Collaboration with Tether on New Form Factors for Mining and Compute Systems

Canaan Inc. has secured a follow-on order from Tether for high-density mining hash board modules. These modules were custom-developed by Canaan to support Tether’s next-generation immersion-cooled mining and compute systems. This agreement follows a successful proof-of-concept R&D project in 2025. The modules are part of Canaan’s next-generation modular mining and compute hardware platform, enabling flexible integration into partner-designed systems, particularly for immersion-cooled deployments. The system designed by ACME Swisstech integrates Canaan’s modular platform for an innovative, integrated bitcoin mining solution. Canaan’s CEO, Nangeng Zhang, highlighted the growing demand for modular, high-performance hardware and Canaan’s ability to deliver customized hash board solutions. Tether’s CEO, Paolo Ardoino, emphasized the shift towards modular compute that can be tuned, upgraded, and cooled independently. ACME Swisstech’s president, Giv Zanganeh, noted the collaborative approach for large-scale operations. The agreement includes an option for Tether to purchase additional module volume in future phases. This collaboration reflects a broader trend toward partner-driven, modular mining architectures.