10:52 AM EDT, 03/26/2025 (MT Newswires) -- Canaan (CAN) said Wednesday it is expanding its crypto self-mining capabilities through a three-year master colocation agreement with Mawson Infrastructure Group ( MIGI ) affiliate Mawson Hosting for its facility in Midland, Pennsylvania.

The expansion in Pennsylvania and a recently signed 24-month equipment hosting deal for a facility in Edna, Texas, are expected to increase Canaan's self-mining computing power by about 4.7 exa hashes per second, Canaan said, adding that majority of this hashrate is expected to be installed by Q2.

Canaan shares fell 8.3% and Mawson shares dropped 5.6% in recent Wednesday trading.

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