<canvas>
text draw operations are separate operations from DOM manipulation and thus Mathjax cannot interact with canvas text rendering operations.
I am not sure if there exists <canvas>
renderer backend for MathJax currently. At least it doesn't seem to be so by checking the rendering options on current MathJax demos. Thus, MathJax can only create output on DOM.
Due to security reasons, browsers do not allow rendering DOM on <canvas>
directly, though this is technically possible. Otherwise one could steal content from sites you are logged in (e.g. Facebook) by rendering the site in <iframe>
and then rendering this <iframe>
on canvas.