Canaan (CAN) announced that wholly owned subsidiaries of Canaan have signed agreements that expand the company’s self-mining capabilities at two new partners’ mining facilities in Pennsylvania and Texas. A three-year master colocation agreement has been entered into with Mawson Hosting LLC, an affiliate of Mawson Infrastructure (MIGI), for its facility in Midland, Pennsylvania. This expansion in Pennsylvania, together with another recently executed 24-month equipment hosting agreement for a facility in Edna, Texas, is expected to add around 4.7EH/s of North American hashrate to Canaan’s self-mining computing power. The majority of this hashrate is expected to be installed by the second quarter of 2025.
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