Canaan Inc. (CAN), one of many progressive information middle and mining firms, hit a six-month excessive. The corporate introduced 2.5 MW capability for a brand new mining middle in Canada, utilizing extra gasoline for crypto mining.
Canaan, Inc. (CAN) launched a pilot program to mine cryptocurrency utilizing extra pure gasoline burning for power. The corporate will construct a 2.5 MW information middle, appropriate for 700 Avalon A15Pro miners. The information middle will purpose to realize 90% uptime whereas using extra pure gasoline.
Canaan hopes to make use of extra power for extra duties, switching between mining and AI computing. Canaan will accomplice with Calgary-based Aurora AZ Power Ltd.
Nice milestone for Canaan!
We formally launched a gas-to-compute pilot program in Calgary, Canada, changing deserted and flared gasoline into clear power for Bitcoin mining and AI computing.
– 700 Avalon A15 Professional miners
– 2.5MW capability
– Discount of between 12,000 and 14,000 tons of CO₂ per 12 months
– 90% uptime…– Canaan Inc. (@canaanio) October 13, 2025
Gasoline flaring is without doubt one of the least widespread power sources for BTC mining. Canaan Mining will ship the tools on to the gasoline wells, instantly changing gasoline to electrical energy at under business prices.
“By integrating localized pure gasoline technology with our modular computing programs, we’re reworking beforehand wasted sources into productive power.” Canaan CEO Nangeng Zhang stated within the announcement.
Extra electrical energy shall be used for mining or computing, or offered to the grid throughout information middle downtime.
Canaan Inventory Unfazed by Tariff Talks
Canaan Mining has demonstrated its adaptability to varied market circumstances. CAN shares have been buying and selling because the firm’s preliminary public providing in 2019, permitting it to have a presence within the US. As Cryptopolitan reported, Canaan Mining has managed to earn income from the sale of rigs and direct mining.
The mining firm reaches 9.3 EH/s in September. Moreover, the corporate offered greater than 50,000 A15 Professional models to a US-based firm, regardless of earlier tariffs on merchandise or parts from China.
Canaan Mining is ranked among the many prime 15 firms combining mining, information facilities and extra BTC treasuries. The corporate has are available in second place in ASIC manufacturing and continues to take pleasure in recognition with its Avalaon model. Canaan was additionally the producer of the primary ASIC chips, which introduced BTC mining into a brand new aggressive period.
CAN Inventory Rises to Six-Month Excessive
CAN shares expanded on information of profitable mining and treasury progress. CAN expanded to $1.42, returning to ranges not seen since February.
CAN rose to a six-month excessive, following information of a brand new gasoline drilling partnership. CAN additionally rallied together with different mining shares, as the specter of one other commerce conflict with China dissipated. | Supply: Yahoo Finance
Canaan shares rose greater than 28%increasing quicker in comparison with different mining firms with extra reserves narratives.
The mining rig maker didn’t immediately profit from the treasury frenzy, as a result of its concentrate on mining. Canaan isn’t a ‘playbook’ firm and isn’t searching for extra BTC purchases. Nevertheless, Canaan nonetheless has the thirty ninth largest BTC hoard, with 1,547 BTC accrued as of October 2025.
CAN additionally adopted the final development of main mining firms, increasing by greater than 10% on common within the final day. Different mining shares rallied throughout the board, recovering shortly after the chance of one other commerce conflict with China diminished.
In current months, BTC mining has continued to increase, with the creation of latest information facilities, regardless of the looming worry of tariffs on ASIC parts or platforms.
