Canaan rallies to a six-month high amid its new Bitcoin gas-to-compute data center

Canaan Inc. (CAN), one of the innovative mining and data center companies, rallied to a six-month high. The company announced a 2.5MW capacity for a new mining center in Canada, using excess gas flares for crypto mining. 

Canaan, Inc. (CAN) launched a pilot program for mining crypto using excess natural gas flares for energy. The company will build a 2.5MW data center, suitable for 700 Avalon A15Pro miners. The data center will aim for 90% uptime while utilizing excess natural gas. 

Canaan hopes to use the excess energy for extra tasks, switching between mining and AI computation. Canaan will partner with Calgary-based Aurora AZ Energy Ltd. 

Gas flares are one of the less common sources of energy for BTC mining. Canaan Mining will deliver the equipment directly to gas wellheads, immediately converting the gas to electricity at below industry costs.

“By integrating localized natural gas generation with our modular computing systems, we are transforming previously wasted resources into productive energy,” said Canaan CEO Nangeng Zhang in the announcement.

The excess electricity will be either used for mining or computation, or sold to the grid during data center downtimes. 

Canaan’s shares unfazed by tariff talk

Canaan Mining has shown its adaptability to varied market conditions. CAN shares have traded since the company’s IPO in 2019, allowing the company a footprint in the USA. As Cryptopolitan reported, Canaan Mining has been successful in securing revenues from rig sales and direct mining. 

The mining company achieves 9.3 EH/s as of September. Additionally, the company sold more than 50K A15 Pro units to a US-based firm, despite previous tariffs on products or components from China. 

Canaan Mining is ranked in the top 15 of companies combining mining, data centers, and additional BTC treasuries. The company has been the runner-up to ASIC production, still claiming popularity with its Avalaon brand. Canaan was also the producer of the first ASIC chips, which brought BTC mining to a new competitive era. 

CAN shares rally to a six-month high

CAN shares expanded on the news of successful mining and treasury growth. CAN expanded to $1.42, returning to levels not seen since February. 

Canaan shares rose by over 28%, expanding faster compared to other mining companies with additional reserve narratives. 

The mining rig producer did not benefit directly from the treasury company frenzy, due to its focus on mining. Canaan is not a ‘playbook’ company and does not seek additional BTC purchases. However, Canaan still has the 39th largest BTC treasury, with 1,547 BTC accrued as of October 2025. 

CAN also followed the general trend of leading mining companies, expanding by over 10% on average in the past day. Other mining stocks rallied across the board, recovering rapidly after the diminishing probability of another trade war with China. 

Over the past months, BTC mining continued to expand, with new data centers created, despite the looming fear of tariffs on components or ASIC rigs.

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