Canaan Partners with Japanese Utility Firm to Stabilize Power Grid via Bitcoin Mining

Canaan Inc., a company specializing in ASIC semiconductor design, announced on the 30th that it has entered into a 4.5-megawatt mining server sales contract with a major Japanese regional power company. The water-cooled Avalon A1566HA servers will be used for real-time power grid balancing and energy efficiency optimization. The facility is scheduled to start operations at the end of 2025 and will be Japan's first national-related Bitcoin mining project.

While Canaan has not disclosed its partner, this initiative involves the use of surplus renewable energy by a subsidiary of Tokyo Electric Power Company, Japan's largest power provider...