TechFlow News, February 24: According to The Block, mining hardware manufacturer Canaan has acquired a 49% equity stake in three joint venture Bitcoin mining projects operated by Cipher Mining in West Texas.
The transaction is valued at approximately $39.75 million and was settled through the issuance of Canaan’s company stock, making Cipher Mining a significant shareholder of Canaan. Upon completion of the deal, Canaan will assume full operational control of these Bitcoin mining projects in West Texas.




