Tether Orders Canaan Avalon Modules for South America Mine

Tether has placed a follow-on order with Canaan for Avalon modular hash-board units that will be deployed at a Tether-affiliated, immersion-cooled bitcoin mining facility in South America in 2026.

The modules were co-designed with ACME Swisstech and built for high-density immersion cooling. The order follows a 2025 proof-of-concept R&D project among the three companies that produced the modular architecture now moving into production.

Under the agreement, Canaan will supply custom hash-board modules that separate the compute layer from power supplies and enclosures. The split lets operators integrate compute building blocks directly into facilities they design and supports dynamic control of hash rate. Tether also has an option to buy additional module volume for future phases.

Canaan says the modular units combine the company’s ASIC chips with custom control boards and mining management systems to form self-contained mining nodes. Immersion cooling involves submerging components in dielectric fluid to carry away heat.

Nangeng Zhang, Canaan’s chief executive, said the company is focusing on hardware that supports direct integration into operators’ systems. “Leveraging our strong ASIC design expertise and flexible development platform, we are delivering customized hash-board solutions that enable partners to optimize system architecture at the component level,” he added.

Paolo Ardoino, Tether’s chief executive, noted limits of sealed, fixed units and described Tether’s approach as modular compute that can be tuned, upgraded and cooled independently to control cost and performance at scale.

Giv Zanganeh, president of ACME Swisstech, commented that the collaboration emphasized industrial co-design for large-scale operations rather than retail plug-and-play products.

Canaan has been listed on Nasdaq since its 2019 initial public offering and traces its Avalon mining hardware brand to 2013. Tether issues the USDT stablecoin and has expanded into bitcoin mining infrastructure and open-source mining software in recent years. The agreement includes an option for Tether to purchase more modules in future phases.