Canaan Technology Bitcoin pilot project uses abandoned natural gas power generation to drive high-performance computing
2025-10-13 22:25:21
Shares of Canaan (NASDAQ: CAN) rose 40% on Monday as the company's pilot project in Calgary, Alberta, converts abandoned natural gas into electricity for high-performance computing, including bitcoin mining and AI workloads. Developed in collaboration with local Aurora AZ Energy, the pilot shows how wasted resources can be turned into productive energy for the next generation of distributed AI infrastructure. Industry trends show that bitcoin mining farms are being transformed into computing power centers to support AI and data centers, and Galaxy Digital also plans to convert the Helios mine in Texas into a large AI data center.
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