BEIJING (dpa-AFX) - Canaan Inc. (CAN) has expanded its self-mining operations through agreements with two new mining partners in Pennsylvania and Texas.
A three-year colocation agreement was signed with Mawson Hosting LLC for its Midland, Pennsylvania facility, alongside a 24-month hosting agreement for a Texas-based facility in Edna.
These expansions are expected to contribute approximately 4.7 EH/s of hashrate to Canaan's North American mining capacity, with most installations anticipated by Q2 2025.
Canaan's leadership emphasized that the U.S. regulatory environment supports its growth strategy, allowing for future expansion and mining machine sales.
Mawson Infrastructure Group's CEO highlighted the partnership's potential to optimize digital infrastructure by integrating Canaan's advanced mining hardware with Mawson's computing management capabilities, creating long-term value for both companies and the broader crypto ecosystem.
CAN is currently trading at $0.9401 or 12.9537% lower on the Nasdaq Global Market.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
