• Canaan acquires 49% stake in three Texas mining sites. • Sites provide 120 MW power and 4.4 EH/s hashrate. • Joint venture entities include Alborz, Bear, Chief Mountain. • WindHQ retains 51% ownership of the projects. • Deal expands Canaan’s footprint beyond hardware manufacturing. • Investment supports low‑cost, renewable‑powered mining operations.

Article Summaries:

  • Canaan has acquired a 49 % stake in three Texas bitcoin‑mining sites-Alborz, Bear and Chief Mountain-by purchasing Cipher Mining’s interest for $39.75 million. The deal was financed through the issuance of 806 million Class A shares, giving Canaan a near‑half ownership while renewable‑energy partner WindHQ keeps 51 %. The trio, collectively called the “ABC Projects,” already operate 120 MW of power and 4.4 EH/s of hashrate, and include 6,840 Avalon A15Pro rigs that Canaan took from Cipher. Texas sites benefit from sub‑$0.03/kWh electricity and wind‑powered generation. Canaan’s Q4 2025 results showed a 121 % revenue jump and a 98.5 % rise in bitcoin‑mining income, underscoring its push to expand mining capacity and transition some assets toward AI and high‑performance computing.

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