I saw that Canaan invested $39.75 million in a mining venture in Texas. They say they acquired a 49% stake. It seems that such strategic equity acquisitions are becoming more common in the mining industry. Especially in West Texas, where energy costs are low, making it an attractive location for mining operations. I wonder why hardware manufacturers like Canaan are directly investing in these kinds of ventures. Maybe to control the supply chain and increase market share? Mining activities in Texas have been quite active lately. These kinds of mergers indicate how the industry might shape up. Do you think this strategy is the right move?

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