Canaan Inc. Expands its Self-mining Footprint in Texas and Pennsylvania
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Canaan Inc. is expanding its self-mining operations in Texas and Pennsylvania through a strategic joint mining agreement with Luna Squares Texas LLC. The company plans to install Avalon A14 and A15 mining machines, aiming for a 10 EH/s capacity in North America by mid-2025.
November 20, 2024 | 10:00 am
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Canaan Inc. is expanding its self-mining operations in the US through a joint venture with Luna Squares Texas LLC. This move includes installing new mining machines and aims to significantly increase their mining capacity.
The strategic partnership and expansion of mining operations in the US are likely to enhance Canaan's market position and operational capacity. The installation of new mining machines and the goal of reaching 10 EH/s capacity by 2025 indicate a strong growth trajectory, which is positive for the company's stock in the short term.
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