Canaan's subsidiary Beet Digital has partnered with Luna Squares Texas for joint Bitcoin mining operations, planning to install Avalon A14 and A15 mining machines at a 30 MW site in Willow Wells, Texas. The revenue-sharing agreement allocates 50% to each party for A14 Series and 70-30 split for A15 Series until capital recovery. The site is expected to provide 1.62 EH/s of computing power when fully energized in Q1 2025.In Pennsylvania, Canaan's subsidiary Cantaloupe Digital is upgrading its mining fleet at Stronghold's Panther Creek facility. The company will deploy 6,000 Avalon A14 series machines, achieving 0.9 EH/s computing power by December 31, 2024. These expansions are part of Canaan's $50 million preferred shares financing commitment.The strategic moves align with Canaan's goal to reach 10 EH/s capacity in North America by mid-2025. Luna Squares Texas, which manages over 35 MW of Bitcoin mining equipment, has committed to 96% uptime and operates with an average power cost of $40/MWh over the past year.

Canaan's subsidiary Beet Digital has partnered with Luna Squares Texas for joint Bitcoin mining operations, planning to install Avalon A14 and A15 mining machines at a 30 MW site in Willow Wells, Texas. The revenue-sharing agreement allocates 50% to each party for A14 Series and 70-30 split for A15 Series until capital recovery. The site is expected to provide 1.62 EH/s of computing power when fully energized in Q1 2025.In Pennsylvania, Canaan's subsidiary Cantaloupe Digital is upgrading its mining fleet at Stronghold's Panther Creek facility. The company will deploy 6,000 Avalon A14 series machines, achieving 0.9 EH/s computing power by December 31, 2024. These expansions are part of Canaan's $50 million preferred shares financing commitment.The strategic moves align with Canaan's goal to reach 10 EH/s capacity in North America by mid-2025. Luna Squares Texas, which manages over 35 MW of Bitcoin mining equipment, has committed to 96% uptime and operates with an average power cost of $40/MWh over the past year.