Briefly
Canaan teamed with Calgary-based Aurora AZ Vitality to check distributed gas-powered programs.
The corporate says the setup may lower 14,000 tons of carbon emissions yearly.
Buying and selling quantity greater than doubled Monday, marking certainly one of Canaan’s busiest classes this 12 months.
Bitcoin mining {hardware} producer Canaan Inc. (NASDAQ:CAN) inventory jumped over 40% Monday, closing at $1.52 on double its common buying and selling quantity, following its announcement of a gas-to-compute pilot in Alberta, Canada.
The pilot venture, developed with Calgary-based Aurora AZ Vitality, is designed to transform “distributed pure fuel assets” into “dependable, cost-efficient energy for high-density computing environments,” in accordance with a assertion.
Distributed pure fuel assets are small or distant fuel websites that can be utilized regionally to generate energy as an alternative of sending the fuel to energy vegetation. When used for Bitcoin mining, such a useful resource may present cheaper and extra dependable off-grid energy.

Canaan’s inventory jumped following the announcement, rising greater than 40% to shut at $1.52 on Monday, in accordance with Google Finance.
Historic information from Nasdaq exhibits Canaan traded about 72.3 million shares on Monday, up from its 30.8 million month-to-month common. The recorded quantity was one of many firm’s highest, greater than double its typical buying and selling ranges seen all through 2025.
Canaan claims its proposed setup may lower as a lot as 14,000 tons of carbon emissions annually through the use of fuel that might in any other case be flared.
The pilot goals to check whether or not small, modular programs can reliably energy Bitcoin mining and AI computing at decrease price, although the corporate has not but launched efficiency information.
Decrypt reached out to Canaan for touch upon its emissions-reduction declare and the efficiency targets for the Alberta gas-to-compute pilot.
Earlier this month, Canaan secured a 50,000-unit Avalon A15 Professional order from a U.S. mining buyer. It was the corporate’s largest sale in three years and confirmed renewed demand for its newest {hardware}.
Canaan’s inventory rally displays a wider rebound in Bitcoin mining shares as buyers return to crypto infrastructure performs.
Firms corresponding to Marathon Digital, CleanSpark, and Bitdeer have outperformed Bitcoin in October, lifted by the asset’s rise towards document highs and stronger demand for energy-efficient operations.
On the time of writing, Bitcoin is buying and selling at about $114,700 per CoinGecko information, after struggling a pointy “Black Friday” crash over the weekend that triggered over $19 billion in liquidations throughout the crypto market.
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