Canaan Receives New Order from Tether for Immersion-Cooled Bitcoin Mining Hardware

Canaan Inc., a leading bitcoin mining hardware manufacturer, has announced that it has received a significant new order from stablecoin issuer Tether. The order is for high-density hashboard modules specifically designed for immersion cooling systems.

The modules are intended for deployment at Tether's affiliated facilities in South America and represent a continuation of the research and development partnership between Canaan, Tether, and ACME Swisstech established in 2025.

As part of this collaboration, the three parties have been working on proof-of-concept platforms aimed at enhancing mining efficiency and scalability. The agreement also includes an additional purchase option, giving Tether flexibility to expand its infrastructure as needed.