Tether and Canaan Unveil Modular Bitcoin Mining Systems

Tether and Canaan Inc. have solidified their partnership with a new hardware order for high-density hash board modules built for immersion-cooled Bitcoin mining systems.

The deal, worth an unspecified amount, follows a research and development partnership between the two companies in 2025 that produced a proof-of-concept platform focused on improving efficiency and scalability at an industrial mining scale.

Tether CEO Paolo Ardoino described conventional mining infrastructure as 'built as sealed, fixed units, which makes it expensive to scale and inefficient to run.'

Canaan brings its established expertise in application-specific integrated circuit design and Bitcoin mining hardware manufacturing to the partnership. The company holds 1,808 Bitcoin on its balance sheet, valued at approximately $137 million, its highest retained Bitcoin level on record.