Canaan to Supply Bitcoin Mining Rigs for Japan’s Grid Stabilization Project

Canaan, a leading mining hardware producer, has secured a contract to supply 4.5 megawatts (MW) of Bitcoin mining application-specific integrated circuits (ASICs) to power a project aimed at stabilizing Japan’s electric grid. The project will leverage Canaan’s new Avalon A1566HA-488T water-cooled ASICs for “real-time grid balancing and energy-efficiency optimization.”