Canaan Inc. (CAN), an revolutionary mining and knowledge middle firm, rose to a six-month excessive. The corporate introduced a brand new mining middle in Canada with 2.5MW capability utilizing surplus gasoline flares for cryptocurrency mining.
Canaan, Inc. (CAN) has launched a pilot program to harness surplus pure gasoline flares for power to mine cryptocurrencies. The corporate will construct a 2.5MW knowledge middle appropriate for 700 Avalon A15Pro miners. The information middle goals to attain an working charge of 90% whereas using surplus pure gasoline.
Canaan desires to make use of the surplus power for extra duties and change between mining and AI calculations. Canaan will companion with Calgary-based Aurora AZ Vitality.
A giant milestone for Canaan!
We formally launched our gas-to-compute pilot in Calgary, Canada. This converts stranded and flared gasoline into clear power for Bitcoin mining and AI computing.
– 700 Avalon A15 Professional miners
– 2.5MW capability
– Scale back CO₂ by 12-14,000 tons per 12 months
– 90% uptime…— Canaanio Co., Ltd. (@canaanio) October 13, 2025
Gasoline flares are one of many much less widespread power sources for BTC mining. Canaan Mining delivers gear on to gasoline nicely sources to immediately convert gasoline to electrical energy at under trade prices.
“By integrating localized pure gasoline technology with our modular computing programs, we’re changing beforehand wasted sources into productive power. ” Canaan CEO Nangeng Zhang mentioned within the announcement.
Extra energy is used for mining and computation, or offered to the facility grid throughout knowledge middle downtime.
Canaan shares stay unfazed by tariff negotiations
Canaan Mining has demonstrated its capability to adapt to completely different market situations. CAN inventory has been buying and selling because the firm’s IPO in 2019, permitting the corporate to make a footprint within the US. As reported by Cryptopolitan, Canaan Mining has been profitable in securing income from rig gross sales and direct mining.
The mining firm achieved 9.3 EH/s as of September. Moreover, the corporate offered greater than 50,000 A15 Professional items to US-based firms regardless of earlier tariffs on merchandise and elements from China.
Canaan Mining ranks among the many prime 15 firms that mix mining, knowledge facilities, and extra BTC vaults. The corporate is a runner-up in ASIC manufacturing and stays common with its Avalon model. Canaan was additionally the producer of the primary ASIC chip that ushered in a brand new aggressive period in BTC mining.
CAN inventory rises to six-month excessive
CAN inventory rose on information of mining success and monetary development. CAN widened to $1.42, returning to ranges not seen since February.
CAN rose to a six-month excessive on information of a brand new partnership in gasoline flaring mining. CAN has rebounded together with different mining shares as the specter of a brand new commerce battle with China has light. |Supply: Yahoo Finance
Canaan inventory rises considerably 28%is increasing sooner in comparison with different mining firms with further reserve narratives.
Mining rig producers had been targeted on mining and didn’t immediately profit from the monetary firm frenzy. Canaan will not be a “technique” firm and isn’t looking for further purchases of BTC. Nonetheless, Canaan nonetheless holds the thirty ninth largest BTC vault. 1,547BTC Occurred as of October 2025.
CAN additionally adopted the final development amongst giant mining firms, increasing by greater than 10% on common over the previous day. Different mining shares additionally rose throughout the board, rebounding shortly because the possibilities of one other commerce battle with China turned much less doubtless.
Over the previous few months, new knowledge facilities have been established and BTC mining has continued to increase regardless of looming issues of tariffs on parts and ASIC rigs.
