Canaan (CAN) Wins Contract To Supply Crypto Mining Heat To Nordic District Heating Network

Canaan Inc. secured a contract to deliver heat-recovery computing infrastructure to a district heating network in the Nordic region. The system uses Avalon A1566HA hydro-cooled mining units that capture thermal output from Bitcoin mining and redirect it as hot water for residential heating. The units produce water at about 80°C, matching existing district heating infrastructure requirements. The project runs in two phases: an initial 228 units providing 2 MW of heating capacity are already operating, and a follow-on order adds 692 units in March 2026 to reach 8 MW total capacity. Full deployment is expected to serve about 2,800 homes. The design supports real-time output adjustment through parallel units and reduces single-point failure risk while simplifying maintenance compared with centralized boilers.

"Canaan Inc. (NASDAQ: CAN), the Bitcoin mining equipment manufacturer, has secured a contract to provide heat-recovery computing infrastructure to a district heating network in the Nordic region, the company announced today."

"The deal centers on Canaan's Avalon A1566HA hydro-cooled mining units, which capture thermal output from Bitcoin mining operations and redirect it as hot water into residential heating systems. The units generate water at approximately 80 degrees Celsius - a temperature range compatible with existing district heating infrastructure."

"The project is structured in two phases. A first phase of 228 A1566HA units, totaling 2 MW of heating capacity, is operational and has been delivering hot water to local residents. In March 2026, the unnamed Nordic heating provider placed a follow-on order for an additional 692 units, expanding total capacity to 8 MW. At full deployment, the system is expected to serve approximately 2,800 homes."

"Canaan's architecture gives the system a technical edge over traditional boilers, according to the company. Because the heating nodes run many parallel A1566HA units that support dynamic overclocking and underclocking, operators can adjust output in real time to match shifting heating demand. The parallel design also reduces single-point failure risk and simplifies maintenance compared to centralized boiler systems."

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