Canaan Expands into Texas Mining Infrastructure
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Canaan's $40 million acquisition of a 49% stake in three Texas mining facilities marks a strategic pivot beyond its core hardware business into infrastructure operations. The deal provides access to 120 MW of power and 4.4 EH/s of hashrate, positioning the company to benefit directly from mining revenue streams while diversifying its business model. This vertical integration could enhance Canaan's resilience against hardware market volatility.
Texas continues to attract mining investments due to its favorable regulatory environment and abundant energy resources. Canaan's move reflects broader industry trends where manufacturers seek operational control over their equipment's deployment. While this expansion requires significant capital allocation, it demonstrates confidence in Bitcoin's long-term mining economics and could strengthen Canaan's competitive positioning in an increasingly consolidated market.
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