{"id":94608,"date":"2026-02-24T12:36:34","date_gmt":"2026-02-24T09:36:34","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=94608"},"modified":"2026-02-24T12:40:16","modified_gmt":"2026-02-24T09:40:16","slug":"canaan-acquires-stake-in-texas-mining-centres-for-39-75-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/canaan-acquires-stake-in-texas-mining-centres-for-39-75-million\/","title":{"rendered":"Canaan Acquires Stake in Texas Mining Centres for $39.75 Million"},"content":{"rendered":"

The cryptocurrency mining firm Canaan acquired<\/a> a 49% stake in the joint venture ABC Projects from Cipher Mining. The transaction was valued at approximately $39.75 million.<\/p>\n

Canaan paid for the acquisition with its own shares. Cipher will receive 53.7 million American Depositary Shares (ADS) of the company, valued at $0.7394 per share.<\/p>\n

The parties agreed to a six-month lock-up period for the sale of these assets.<\/p>\n

The ABC Projects venture comprises three data centres in Texas, USA, with a total capacity of 120 MW and a hashrate<\/a> of 4.4 EH\/s.<\/p>\n

The primary advantage of these sites is the low electricity cost, averaging less than $0.03 per kWh. The controlling stake (51%) will remain with WindHQ.<\/p>\n

As part of the deal, Canaan also acquired 6,840 Avalon A15Pro ASIC miners from Cipher. These devices previously operated at the Black Pearl site, which Cipher is now converting into a computing centre for artificial intelligence.<\/p>\n

Canaan CEO Nangeng Zhang described the deal as a significant step towards entering the North American market. The manufacturer plans to directly develop infrastructure in the US, aiming to increase energy consumption to 1 GW by the end of 2026. This strategy will be implemented by combining traditional Bitcoin mining with AI data centres.<\/p>\n

Cipher CEO Tyler Page noted that his company agreed to payment in shares, believing in Canaan’s long-term growth in the American market.<\/p>\n

The miner reported<\/a> a significant recovery in financial performance in the fourth quarter, with revenue reaching $196 million. This figure is 121% higher than the previous year and marks the company’s best quarterly sales performance in three years.<\/p>\n

However, Canaan’s shares fell by 5.71% to $0.43. Over the past month, the stock price has decreased by 38.71%.<\/p>\n

\"\u0421\u043d\u0438\u043c\u043e\u043a
Source: Google Finance<\/a>.<\/figcaption><\/figure>\n

In January, Nasdaq notified<\/a> Canaan of non-compliance with listing price requirements.<\/p>\n","protected":false},"excerpt":{"rendered":"

Canaan, a cryptocurrency mining company, acquired a 49% stake in the joint venture ABC Projects from Cipher Mining for approximately $39.75 million.<\/p>\n","protected":false},"author":1,"featured_media":94609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Canaan acquired a 49% stake in ABC Projects from Cipher Mining for $39.75 million.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[83,845,1137,26],"class_list":["post-94608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-business","tag-canaan","tag-cryptocurrency-mining","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"150","promo_type":"1","layout_type":"1","short_excerpt":"Canaan acquired a 49% stake in ABC Projects from Cipher Mining for $39.75 million.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94608","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=94608"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94608\/revisions"}],"predecessor-version":[{"id":94610,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/94608\/revisions\/94610"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/94609"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=94608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=94608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=94608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}