In a transfer that blends vitality innovation with digital infrastructure, Canaan Inc. introduced the launch of a pilot mission in Calgary, Alberta, designed to show stranded or flared pure gasoline into energy for Bitcoin mining and high-performance computing.
The initiative, developed in partnership with Aurora AZ Vitality, marks a step for Canaan because it explores how waste gasoline — typically burned off at distant wells — can as an alternative gas computing energy straight on the supply.
The pilot will set up over $2 million value of Avalon A15 Professional miners and modular information facilities at wellheads, delivering roughly 2.5 megawatts of computing capability with a assured 90% uptime.
Canaan’s inventory began within the inexperienced and is at present up 22% on the information to $1.33 per share.
At its core, this “gas-to-compute” system is an experiment in effectivity: utilizing off-grid vitality that will in any other case pollute to energy one of many world’s most energy-hungry industries. Canaan estimates the mission will forestall as much as 14,000 metric tons of CO₂-equivalent emissions yearly by capturing and changing flared gasoline into electrical energy.
“This initiative represents a serious step in demonstrating how computing infrastructure can evolve alongside vitality innovation,” mentioned Canaan CEO Nangeng Zhang. “By integrating localized pure gasoline technology with our modular techniques, we’re remodeling beforehand wasted assets into productive vitality.”
From flared gasoline to Bitcoin mining and AI innovation
Flared gasoline — pure gasoline launched and burned as a byproduct of oil extraction — stays a big environmental problem, particularly in energy-rich areas like Alberta.
Based on the Alberta Vitality Regulator, greater than 900 million cubic meters of gasoline had been flared in 2024 alone. The Canaan-Aurora mannequin goals to show that drawback into a chance, creating what Aurora CEO Jing Shan Zhou calls a “scalable framework” for changing flared or stranded gasoline into computing energy, in line with the corporate’s press launch.
Past Bitcoin mining, Canaan envisions a broader software for this mannequin in powering AI and high-performance computing workloads — sectors going through mounting strain to seek out cheaper, cleaner vitality sources.
As hyperscale information facilities drive world energy demand increased, localized vitality technology like this might supply an alternate path to scale sustainably.
Throughout downtime or grid curtailments, Canaan may also profit from promoting extra energy again to the grid by demand-response applications, the corporate mentioned.