Canaan (CAN) Growth Momentum Strengthens Following 3.0 MW Proof-of-Concept Project Announcement

Group 1 - Canaan Inc. announced a 3.0 MW proof-of-concept project with Bitforest Investment in Manitoba, Canada, aimed at monetizing waste heat from crypto mining for agricultural applications [2] - The pilot project will last 24 months and involve deploying 360 Avalon A1566HA-460T liquid-cooled servers, with management projecting that approximately 90% of the electricity consumed could be captured and reused, targeting a 95% uptime [2][3] - The project positions high-density computing as an energy-efficient infrastructure asset, featuring a low power cost of $0.035 per kWh and the potential for shared economics if surplus power is sold back to the grid [3] Group 2 - Canaan Inc. focuses on the development and sale of Bitcoin mining machines and related services, although there are concerns that certain AI stocks may offer greater upside potential with less downside risk [4]