Canaan Inc. Expands Partnership with CleanSpark for Immersion-Cooling Miners

Canaan Inc. (NASDAQ: CAN), a outstanding participant within the cryptocurrency mining sector, has introduced a major growth in its partnership with CleanSpark Inc. (NASDAQ: CLSK). The U.S. subsidiary of Canaan has obtained an order from CleanSpark for extra Avalon A1566I immersion-cooling miners. These miners are identified for his or her effectivity, delivering a hashrate between 249 and 267 terahashes per second (TH/s), with out overclocking, in response to PR Newswire.

Strengthening the Mining Fleet

The partnership between Canaan and CleanSpark started with an preliminary order in November 2024, the place CleanSpark procured 3,800 Avalon A1566I miners. The newest order marks a continuation of this collaboration, underscoring Canaan’s dedication to offering cutting-edge mining options. Nangeng Zhang, chairman and CEO of Canaan, expressed satisfaction in supporting CleanSpark because it expands its state-of-the-art immersion mining operations in Norcross, Georgia. Zhang highlighted the alignment of CleanSpark’s give attention to effectivity and uptime with Canaan’s dedication to innovation.

Dedication to Innovation

Canaan is closely investing in next-generation ASIC expertise, significantly concentrating on the North American market. This strategic focus is meant to empower companions like CleanSpark with superior mining capabilities, which is mirrored within the substantial orders from massive public mining firms. The collaboration with CleanSpark is a testomony to the power of Canaan’s services and its ongoing dedication to buyer success.

About Canaan Inc.

Based in 2013, Canaan Inc. makes a speciality of ASIC high-performance computing chip design and growth, computing gear manufacturing, and software program providers. The corporate has been a pioneer within the discipline, having shipped the primary batch of ASIC-based mining machines in bitcoin’s historical past beneath the Avalon model. Canaan went public in 2019, itemizing on the Nasdaq International Market.

The expanded cope with CleanSpark not solely reinforces Canaan’s place as a pacesetter within the crypto mining trade but in addition helps CleanSpark’s development technique within the evolving bitcoin mining panorama. Because the demand for environment friendly and highly effective mining options will increase, partnerships like this are essential for the continued growth and success of the sector.

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