An interesting development in the mining industry — Canaan is investing large sums in the Texas-based Cipher project, nearly $40 million for a 50% stake. Texas has long been a mining hub in the United States, and it seems that major players like Canaan have noticed this. They are paying with shares, which indicates a long-term commitment to development. It will be interesting to see how this affects the mining activity index in the region and overall competition. Perhaps even more capital will flow into Texas-based projects soon.