Overview

• Canaan partnered with Calgary-based Aurora AZ Energy to deploy distributed gas-to-compute systems at oil and gas well sites.
• The pilot installs about 700 Avalon A15 Pro miners in modular units for roughly 2.5 MW of off-grid capacity, with provisions to sell excess power back to the grid.
• Canaan is offering a 90% uptime guarantee for the site, excluding extreme weather or scheduled maintenance.
• The company estimates avoiding about 12,000–14,000 metric tons of CO2-equivalent emissions per year by using gas that would otherwise be flared, with results to be validated during the pilot.
• Canaan’s shares closed up more than 40% at $1.52 on Monday on heavy volume following the announcement, marking one of the stock’s busiest sessions of the year.