The company has announced a 2.5 MW capacity for a new mining center in Canada, powered by excess gas.
Technology firm Canaan Inc. has launched a pilot program in Calgary, in the province of Alberta, harnessing excess natural gas – normally flared during oil operations – to power its bitcoin mining activities.
The new facility, with a 2.5-megawatt capacity, will be able to host 700 Avalon A15Pro mining units and operate at a 90% uptime rate. Canaan will work in close partnership with Aurora AZ Energy Ltd., a Canadian company specializing in localized energy management.
Canaan’s technology involves installing mining machines directly at gas extraction sites. The system instantly converts natural gas into electricity, achieving lower production costs than the industry average. As CEO Nangeng Zhang stated during the official announcement:
“By integrating localized natural gas generation with our modular computing systems, we are transforming previously wasted resources into productive energy.”
Any excess energy not used for mining operations may be allocated to high-performance computing processes or fed back into the power grid.
In the global ranking of operators that combine mining, infrastructure management, and bitcoin reserve accumulation, Canaan ranks among the top fifteen companies, remaining the second-largest ASIC chip manufacturer in the world.
The energy partnership announcement boosted Canaan’s stock price, which reached $1.42, a level not seen since February 2025.
