Canaan Inc. (CAN), an innovative mining and data center company, rose to a six-month high. The company announced a new mining center in Canada with 2.5MW capacity using surplus gas flares for cryptocurrency mining.
Canaan, Inc. (CAN) has launched a pilot program to harness surplus natural gas flares for energy to mine cryptocurrencies. The company will build a 2.5MW data center suitable for 700 Avalon A15Pro miners. The data center aims to achieve an operating rate of 90% while utilizing surplus natural gas.
Canaan wants to use the excess energy for additional tasks and switch between mining and AI calculations. Canaan will partner with Calgary-based Aurora AZ Energy.
A big milestone for Canaan!
We officially launched our gas-to-compute pilot in Calgary, Canada. This converts stranded and flared gas into clean energy for Bitcoin mining and AI computing.
– 700 Avalon A15 Pro miners
– 2.5MW capacity
– Reduce CO₂ by 12-14,000 tons per year
– 90% uptime…— Canaanio Co., Ltd. (@canaanio) October 13, 2025
Gas flares are one of the less common energy sources for BTC mining. Canaan Mining delivers equipment directly to gas well sources to instantly convert gas to electricity at below industry costs.
“By integrating localized natural gas generation with our modular computing systems, we are converting previously wasted resources into productive energy. ” Canaan CEO Nangeng Zhang said in the announcement.
Excess power is used for mining and computation, or sold to the power grid during data center downtime.
Canaan stocks remain unfazed by tariff negotiations
Canaan Mining has demonstrated its ability to adapt to different market conditions. CAN stock has been trading since the company’s IPO in 2019, allowing the company to make a footprint in the US. As reported by Cryptopolitan, Canaan Mining has been successful in securing revenue from rig sales and direct mining.
The mining company achieved 9.3 EH/s as of September. Additionally, the company sold more than 50,000 A15 Pro units to US-based companies despite previous tariffs on products and parts from China.
Canaan Mining ranks among the top 15 companies that combine mining, data centers, and additional BTC finance. The company is a runner-up in ASIC production and remains popular with its Avalon brand. Canaan was also the producer of the first ASIC chip that ushered in a new competitive era in BTC mining.
CAN stock rises to six-month high
CAN stock rose on news of mining success and financial growth. CAN widened to $1.42, returning to levels not seen since February.
CAN rose to a six-month high on news of a new partnership in gas flaring mining. CAN also rebounded along with other mining stocks as the threat of a new trade war with China faded. |Source: Yahoo Finance
Canaan stock rises significantly 28%is expanding faster compared to other mining companies with additional reserve narratives.
Mining rig producers were focused on mining and did not directly benefit from the financial company frenzy. Canaan is not a “strategy” company and is not seeking additional purchases of BTC. However, Canaan still holds the 39th largest BTC vault. 1,547BTC Occurred as of October 2025.
CAN also followed the general trend among large mining companies, expanding by more than 10% on average over the past day. Other mining stocks also rose across the board, rebounding quickly as the chances of another trade war with China became less likely.
Over the past few months, new data centers have been established and BTC mining has continued to expand despite looming concerns of tariffs on components and ASIC rigs.
