Canaan Expands US Crypto Footprint with Significant Acquisition

Canaan, a leading player in the global cryptocurrency market, has made a bold move to expand its presence in the United States' growing crypto landscape.

The company has acquired a 49% interest in three Cipher Mining operations located in Texas for $39.75 million.

With this significant investment, Canaan aims to increase its influence in North America's crypto mining industry and capitalize on the region's vast mining potential.