Canaan Secures Major Contract to Power Japan’s Grid Stability

Canaan Inc., a leading provider of Bitcoin mining hardware, has secured a significant contract in Japan for its Avalon A1566HA hydro-cooled servers. This deal will see the company deploy these servers to assist with real-time grid balancing for a regional Japanese utility, a move that could be crucial in managing energy demands. 4.5 MW of capacity will be deployed as part of this contract, expected to reach full operation by late 2025.