Latest news with #Canaan
Business Insider
6 days ago
- Business
- Business Insider
Canaan to produce A15Pro Miners for Cipher Mining
Canaan's (CAN) U.S. subsidiary has entered into a purchase agreement with Cipher Mining (CIFR) to supply approximately 6,840 Avalon A15Pro miners to Cipher's Black Pearl facility in Q3. The units will be fulfilled by Canaan's U.S. and Malaysian facilities. This agreement marks Canaan's first major initiative to offer large-scale domestic manufacturing support for U.S.-based bitcoin mining customers. The miners are expected to be deployed at Cipher's Black Pearl facility. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
The Hill
17-07-2025
- The Hill
Thousands of Haitians mark annual pilgrimage far from a sacred waterfall surrounded by gangs
PORT-AU-PRINCE, Haiti (AP) — The massive crowd that would gather once a year at a revered waterfall in central Haiti where the faithful would splash in its sacred waters and rub their bodies with aromatic leaves was not there on Wednesday. Powerful gangs in March attacked the town of Saut-d'Eau, whose 100-foot-long waterfall had for decades drawn thousands of Vodou and Christian faithful alike. The town remains under gang control, preventing thousands from participating in the traditional annual pilgrimage meant to honor the Virgin Mary of Mount Carmel, closely associated with the Vodou goddess of Erzulie. 'Not going to Saut-d'Eau is terrible,' said Ti-Marck Ladouce. 'That water is so fresh it just washes off all the evilness around you.' Instead, Ladouce joined several thousand people who scrambled up a steep hill in a rural part of Haiti's capital, Port-au-Prince, on Wednesday to honor Erzulie and the Virgin Mary of Mount Carmel at a small church that served as a substitute for the waterfall. Like many, Ladouce thanked the Virgin Mary for keeping him and his family alive amid a surge of gang violence that has left at least 4,864 people dead from October to the end of June across Haiti, with hundreds of others kidnapped, raped and trafficked. 'People are praying to be saved,' he said. A church bursting at its seams Daniel Jean-Marcel opened his arms, closed his eyes and turned toward the sky as people around him lit candles, clutched rosaries and tried to push their way into the small church that could not hold the crowd gathered around it. Jean-Marcel said he was giving thanks 'for the grace of being able to continue living in Port-au-Prince,' where gang violence has displaced more than 1.3 million people in recent years. 'There is nowhere for us to go,' he said, adding that he and his family would remain in Haiti even as people continue to flee the ravaged country despite an immigration crackdown by the administration of U.S. President Donald Trump. On Wednesday, U.S. authorities deported more than 100 Haitians to their homeland on the latest such flight. Jacques Plédé, 87, was among those dressed in all white who gathered to give thanks in Port-au-Prince, of which 85% is now controlled by gangs. He recalled helping build the small church but never thought it would serve as a substitute for the Saut-d'Eau waterfall. 'It's very disgraceful for the country that the gangs are taking over one of the nicest waterfalls where people go to pray privately,' he said. 'Life is not over. One day, if I'm still alive, I'll make it back to Saut-d'Eau.' Gang leaders visit a revered church On the morning of March 31, the Canaan gang led by a man known as 'Jeff' attacked Saut-d'Eau. Police and a self-defense group repelled the attack, but the gang returned in early April with more than 500 men, prompting residents and authorities to flee, according to a new report from the U.N. human rights office. Angry over the ongoing violence and what the United Nations described as 'weak responses from authorities,' residents of Saut-d'Eau and other nearby communities in May and June took over a hydroelectric plant in protest, causing widespread power outages in Haiti's capital and its central region. On Wednesday, videos posted on social media showed Jeff Larose, leader of the Canaan gang, standing in the large church of Saut-d'Eau that traditionally hosted the annual Mass amid the three-day pilgrimage. The church was built under a presidential order after rumors began circulating in the mid-1800s that a local farmer had seen the Virgin Mary in a palm tree there. Next to Larose stood Joseph Wilson, who goes by 'Lanmo Sanjou' and is the leader of the 400 Mawozo gang, and Jimmy Chérizier, best known as 'Barbecue' and one of the leaders of a powerful gang federation known as ' Viv Ansanm,' or 'Living Together.' The video showed them distributing money to some residents who gathered with their arms outstretched. 'They used to stop us from coming to Mount Carmel,' Barbecue said. 'We are at the foot of our mother now.' At one point, Lanmo Sanjou looked at the camera and said the Virgin Mary of Mount Carmel would give them the opportunity to perform more miracles. 'Everybody needs protection' The sounds of laughter and gurgling water were absent on Wednesday at the church in Haiti's chaotic capital where the substitute pilgrimage was underway. Hugens Jean, 40, recalled how he and his family in previous years would visit Saut-d'Eau, where they would wash themselves in the waters and cook meals in the nearby woods. 'Today is a very special day,' he said. 'I come here to pray for deliverance for my family and for the country that's in the hands of gangs. One day, we need to be free from these systematic attacks. We don't know who's going to live today or who's going to die tomorrow.' Joane Durosier, a 60-year-old Vodou priestess known as a 'mambo,' shared a similar lament. Dressed in white with a rosary in hand, Durosier said she was praying for herself and her followers. 'A lot of people are suffering,' she said. 'In a country like Haiti, everybody needs protection.'
Hamilton Spectator
16-07-2025
- Hamilton Spectator
Thousands of Haitians mark annual pilgrimage far from a sacred waterfall surrounded by gangs
PORT-AU-PRINCE, Haiti (AP) — The massive crowd that would gather once a year at a revered waterfall in central Haiti where the faithful would splash in its sacred waters and rub their bodies with aromatic leaves was not there on Wednesday. Powerful gangs in March attacked the town of Saut-d'Eau , whose 100-foot-long waterfall had for decades drawn thousands of Vodou and Christian faithful alike. The town remains under gang control, preventing thousands from participating in the traditional annual pilgrimage meant to honor the Virgin Mary of Mount Carmel, closely associated with the Vodou goddess of Erzulie. 'Not going to Saut-d'Eau is terrible,' said Ti-Marck Ladouce. 'That water is so fresh it just washes off all the evilness around you.' Instead, Ladouce joined several thousand people who scrambled up a steep hill in a rural part of Haiti's capital, Port-au-Prince, on Wednesday to honor Erzulie and the Virgin Mary of Mount Carmel at a small church that served as a substitute for the waterfall. Like many, Ladouce thanked the Virgin Mary for keeping him and his family alive amid a surge of gang violence that has left at least 4,864 people dead from October to the end of June across Haiti, with hundreds of others kidnapped, raped and trafficked. 'People are praying to be saved,' he said. A church bursting at its seams Daniel Jean-Marcel opened his arms, closed his eyes and turned toward the sky as people around him lit candles, clutched rosaries and tried to push their way into the small church that could not hold the crowd gathered around it. Jean-Marcel said he was giving thanks 'for the grace of being able to continue living in Port-au-Prince,' where gang violence has displaced more than 1.3 million people in recent years. 'There is nowhere for us to go,' he said, adding that he and his family would remain in Haiti even as people continue to flee the ravaged country despite an immigration crackdown by the administration of U.S. President Donald Trump. On Wednesday, U.S. authorities deported more than 100 Haitians to their homeland on the latest such flight. Jacques Plédé, 87, was among those dressed in all white who gathered to give thanks in Port-au-Prince, of which 85% is now controlled by gangs . He recalled helping build the small church but never thought it would serve as a substitute for the Saut-d'Eau waterfall. 'It's very disgraceful for the country that the gangs are taking over one of the nicest waterfalls where people go to pray privately,' he said. 'Life is not over. One day, if I'm still alive, I'll make it back to Saut-d'Eau.' Gang leaders visit a revered church On the morning of March 31, the Canaan gang led by a man known as 'Jeff' attacked Saut-d'Eau. Police and a self-defense group repelled the attack, but the gang returned in early April with more than 500 men, prompting residents and authorities to flee, according to a new report from the U.N. human rights office. Angry over the ongoing violence and what the United Nations described as 'weak responses from authorities,' residents of Saut-d'Eau and other nearby communities in May and June took over a hydroelectric plant in protest, causing widespread power outages in Haiti's capital and its central region. On Wednesday, videos posted on social media showed Jeff Larose, leader of the Canaan gang, standing in the large church of Saut-d'Eau that traditionally hosted the annual Mass amid the three-day pilgrimage. Next to him, in the largely empty church, stood Joseph Wilson, who goes by 'Lanmo Sanjou' and is the leader of the 400 Mawozo gang , and Jimmy Chérizier , best known as 'Barbecue' and one of the leaders of a powerful gang federation known as ' Viv Ansanm ,' or 'Living Together.' The video showed them distributing money to some residents who gathered with their arms outstretched. 'They used to stop us from coming to Mount Carmel,' Barbecue said. 'We are at the foot of our mother now.' At one point, Lanmo Sanjou looked at the camera and said the Virgin Mary of Mount Carmel would give them the opportunity to perform more miracles. 'Everybody needs protection' The sounds of laughter and gurgling water were absent on Wednesday at the church in Haiti's chaotic capital where the substitute pilgrimage was underway. Hugens Jean, 40, recalled how he and his family in previous years would visit Saut-d'Eau, where they would wash themselves in the waters and cook meals in the nearby woods. 'Today is a very special day,' he said. 'I come here to pray for deliverance for my family and for the country that's in the hands of gangs. One day, we need to be free from these systematic attacks. We don't know who's going to live today or who's going to die tomorrow.' Joane Durosier, a 60-year-old Vodou priestess known as a 'mambo,' shared a similar lament. Dressed in white with a rosary in hand, Durosier said she was praying for herself and her followers. 'A lot of people are suffering,' she said. 'In a country like Haiti, everybody needs protection.' ___ Coto reported from San Juan, Puerto Rico. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Winnipeg Free Press
16-07-2025
- Winnipeg Free Press
Thousands of Haitians mark annual pilgrimage far from a sacred waterfall surrounded by gangs
PORT-AU-PRINCE, Haiti (AP) — The massive crowd that would gather once a year at a revered waterfall in central Haiti where the faithful would splash in its sacred waters and rub their bodies with aromatic leaves was not there on Wednesday. Powerful gangs in March attacked the town of Saut-d'Eau, whose 100-foot-long waterfall had for decades drawn thousands of Vodou and Christian faithful alike. The town remains under gang control, preventing thousands from participating in the traditional annual pilgrimage meant to honor the Virgin Mary of Mount Carmel, closely associated with the Vodou goddess of Erzulie. 'Not going to Saut-d'Eau is terrible,' said Ti-Marck Ladouce. 'That water is so fresh it just washes off all the evilness around you.' Instead, Ladouce joined several thousand people who scrambled up a steep hill in a rural part of Haiti's capital, Port-au-Prince, on Wednesday to honor Erzulie and the Virgin Mary of Mount Carmel at a small church that served as a substitute for the waterfall. Like many, Ladouce thanked the Virgin Mary for keeping him and his family alive amid a surge of gang violence that has left at least 4,864 people dead from October to the end of June across Haiti, with hundreds of others kidnapped, raped and trafficked. 'People are praying to be saved,' he said. A church bursting at its seams Daniel Jean-Marcel opened his arms, closed his eyes and turned toward the sky as people around him lit candles, clutched rosaries and tried to push their way into the small church that could not hold the crowd gathered around it. Jean-Marcel said he was giving thanks 'for the grace of being able to continue living in Port-au-Prince,' where gang violence has displaced more than 1.3 million people in recent years. 'There is nowhere for us to go,' he said, adding that he and his family would remain in Haiti even as people continue to flee the ravaged country despite an immigration crackdown by the administration of U.S. President Donald Trump. On Wednesday, U.S. authorities deported more than 100 Haitians to their homeland on the latest such flight. Jacques Plédé, 87, was among those dressed in all white who gathered to give thanks in Port-au-Prince, of which 85% is now controlled by gangs. He recalled helping build the small church but never thought it would serve as a substitute for the Saut-d'Eau waterfall. 'It's very disgraceful for the country that the gangs are taking over one of the nicest waterfalls where people go to pray privately,' he said. 'Life is not over. One day, if I'm still alive, I'll make it back to Saut-d'Eau.' Gang leaders visit a revered church On the morning of March 31, the Canaan gang led by a man known as 'Jeff' attacked Saut-d'Eau. Police and a self-defense group repelled the attack, but the gang returned in early April with more than 500 men, prompting residents and authorities to flee, according to a new report from the U.N. human rights office. Angry over the ongoing violence and what the United Nations described as 'weak responses from authorities,' residents of Saut-d'Eau and other nearby communities in May and June took over a hydroelectric plant in protest, causing widespread power outages in Haiti's capital and its central region. On Wednesday, videos posted on social media showed Jeff Larose, leader of the Canaan gang, standing in the large church of Saut-d'Eau that traditionally hosted the annual Mass amid the three-day pilgrimage. Next to him, in the largely empty church, stood Joseph Wilson, who goes by 'Lanmo Sanjou' and is the leader of the 400 Mawozo gang, and Jimmy Chérizier, best known as 'Barbecue' and one of the leaders of a powerful gang federation known as ' Viv Ansanm,' or 'Living Together.' The video showed them distributing money to some residents who gathered with their arms outstretched. 'They used to stop us from coming to Mount Carmel,' Barbecue said. 'We are at the foot of our mother now.' At one point, Lanmo Sanjou looked at the camera and said the Virgin Mary of Mount Carmel would give them the opportunity to perform more miracles. 'Everybody needs protection' The sounds of laughter and gurgling water were absent on Wednesday at the church in Haiti's chaotic capital where the substitute pilgrimage was underway. Hugens Jean, 40, recalled how he and his family in previous years would visit Saut-d'Eau, where they would wash themselves in the waters and cook meals in the nearby woods. 'Today is a very special day,' he said. 'I come here to pray for deliverance for my family and for the country that's in the hands of gangs. One day, we need to be free from these systematic attacks. We don't know who's going to live today or who's going to die tomorrow.' Sundays Kevin Rollason's Sunday newsletter honouring and remembering lives well-lived in Manitoba. Joane Durosier, a 60-year-old Vodou priestess known as a 'mambo,' shared a similar lament. Dressed in white with a rosary in hand, Durosier said she was praying for herself and her followers. 'A lot of people are suffering,' she said. 'In a country like Haiti, everybody needs protection.' ___ Coto reported from San Juan, Puerto Rico.
Coin Geek
14-07-2025
- Business
- Coin Geek
China's pivot to US production: Game-changer for Bitcoin mining
Getting your Trinity Audio player ready... Major Chinese mining rig manufacturers—Bitmain, Canaan (NASDAQ: CAN), and MicroBT—are making bold moves to establish production facilities in the United States. This strategic pivot, driven by the need to circumvent escalating trade tariffs and secure supply chains, is seen to reshape the competitive dynamics of the Bitcoin mining ecosystem. For publicly traded miners like MARA Holdings (NASDAQ: MARA), Riot Platforms (NASDAQ: RIOT), and CleanSpark (NASDAQ: CLSK), this development could have profound implications for operational resilience, cost structures, and hash rate expansion strategies. However, the specter of rising tariffs and shifting capital flows looms large, potentially redirecting investment to alternative jurisdictions like Canada and Brazil. The catalyst for this shift is the 30% tariff imposed on Chinese-manufactured mining rigs exported to the U.S., a policy rooted in trade tensions that have persisted since the Trump administration. For miners, who rely on cutting-edge Application-Specific Integrated Circuits (ASICs) to maximize hash rate and optimize energy efficiency, these tariffs inflate capital expenditure (capex) budgets, squeezing margins in an industry where every watt counts. Bitmain, the dominant player in the ASIC market, alongside Canaan and MicroBT, has historically supplied the lion's share of mining hardware to U.S.-based operators. However, with tariffs driving up costs, these manufacturers are investing in U.S.-based production to localize supply chains and mitigate financial headwinds. For publicly traded miners, this move is a double-edged sword. On the one hand, localized production could stabilize hardware costs and reduce supply chain risks, enabling firms like MARA and Riot to execute their aggressive hash rate growth targets. MARA, for instance, reported a record-breaking Q1 2025, with fleet upgrades driving efficiency gains to 23 joules per terahash (J/TH). Access to domestically produced rigs could further enhance their ability to deploy next-generation hardware, such as Bitmain's Antminer S21 Pro, which boasts 17 J/TH. Similarly, CleanSpark's focus on low-cost power and modular infrastructure could benefit from shorter lead times and reduced import costs, bolstering its annualized hash rate guidance of 32 EH/s (exahashes per second) by year-end. However, the transition is not without challenges. Establishing U.S. manufacturing facilities requires significant upfront investment, and Chinese manufacturers may face hurdles in navigating regulatory frameworks, securing skilled labor, and scaling production to meet demand. This could mean temporary supply constraints for miners, particularly as global hash rate approaches 1,000 EH/s, intensifying competition for the latest ASICs. Bitdeer (NASDAQ: BTDR), which recently expanded its hash rate to 11 EH/s, has emphasized the importance of securing reliable hardware pipelines to maintain uptime and profitability. Any disruptions in rig availability could force miners to delay fleet upgrades, impacting their ability to capture Bitcoin's block rewards in a post-halving environment where mining economics are increasingly tight. Moreover, the broader implications of this shift extend beyond U.S. borders. Industry analysts warn that if tariffs escalate further—potentially to 60% or higher under a protectionist U.S. administration—Bitcoin mining capital could flow to jurisdictions with more favorable trade and energy policies. With its abundant hydroelectric power and cooler climate, Canada is quickly becoming a prime destination for miners seeking to optimize opex (operating expenses). Brazil, leveraging its renewable energy mix and supportive regulatory stance, is also attracting attention. Hut 8, a publicly traded miner with operations in Canada, recently highlighted its ability to achieve sub-3-cent-per-kWh power costs, a competitive edge that could draw investment away from the U.S. if tariff pressures mount. The strategic calculus for Chinese manufacturers is clear: localize to protect market share. Bitmain, for example, has reportedly scouted sites in Texas and Nevada, leveraging proximity to major mining hubs and renewable energy sources. Canaan, which went public on NASDAQ in 2019, is exploring partnerships with U.S. firms to accelerate its manufacturing footprint. MicroBT, known for its WhatsMiner series, is similarly eyeing domestic production to maintain its edge in the North American market. For miners, this could translate into more predictable capex cycles and reduced exposure to geopolitical risks, a critical factor as they navigate a market where BTC's price volatility and rising network difficulty (currently at 126.4 trillion) demand operational agility. Yet, the risk of capital flight remains a concern. If U.S. tariffs render domestic production unviable, miners may redirect investments to jurisdictions with lower barriers to entry. This could erode the U.S.'s position as a global mining hub, which currently accounts for over 35% of the global hash rate. Publicly traded miners are already diversifying their portfolios to hedge against such risks. Core Scientific, for instance, has expanded into high-performance computing (HPC) to offset mining volatility, while Riot Platforms is exploring international partnerships to secure low-cost power and hardware. For now, the move by Chinese manufacturers signals a bullish outlook for U.S.-based BTC mining, provided regulatory and economic conditions remain favorable. As MARA's CEO Fred Thiel noted in a recent earnings call, 'Access to efficient, reliable hardware is the backbone of our growth strategy.' Localized production could strengthen that backbone, enabling miners to scale hash rate, optimize energy efficiency, and maintain competitive positioning in a hyper-competitive market. However, the industry must remain vigilant, as tariff escalations or supply chain disruptions could shift the center of gravity to other regions, reshaping the global Bitcoin mining ecosystem. In conclusion, the pivot by Bitmain, Canaan, and MicroBT to U.S. production is a strategic response to trade barriers with significant implications for publicly traded miners. While it promises cost stability and supply chain resilience, the specter of rising tariffs and capital flight underscores the need for agility and diversification. As the Bitcoin mining industry navigates these headwinds, the ability to secure cutting-edge hardware and low-cost power will remain the cornerstone of sustainable growth. Watch | Bitcoin mining in 2025: Is it still worth it? title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen>
