Canaan, a Bitcoin mining and hardware manufacturer, has reached a partnership to jointly develop a renewable energy-adaptive Bitcoin mining platform. As the industry seeks sustainable electricity solutions, the company is further increasing its focus on green energy.
In collaboration with green energy developer SynVista Energy, Canaan plans to create a mining machine that utilizes an AI-driven scheduling engine to synchronize energy supply with dynamic computing power demand, the mining company announced on Monday.
Canaan stated that its goal is to maximize the utilization of clean energy without compromising the stability of the power grid.
Canaan indicated that this solution will advance "green mining from scattered pilot projects to engineered, replicable solutions," providing the industry with "a blueprint that is economically viable and meets regulatory requirements."
We’re excited to announce our new partnership with SynVista Energy, launching a renewable-adaptive Bitcoin-mining ecosystem that integrates clean power, storage, and hash-rate in one intelligent platform. ⚡️AI-driven load balancing. Distributed behind-the-meter mining. On-chain… pic.twitter.com/RnCIbQ8R7v
The company added, "The high proportion of renewable energy access is accompanied by increased output volatility and rising risks of power restrictions, making it difficult for traditional strategies to convert excess electricity into realizable returns."
Bitcoin mining has long been criticized for its energy consumption, with estimates suggesting its electricity usage is roughly equivalent to that of medium-sized countries like Poland or Thailand.
However, Bitcoin supporters argue that Bitcoin mining can support grid stability and help alleviate the pressure that AI data centers place on the grid.
Meanwhile, Canaan and SynVista Energy will also tokenize power generation output, carbon reduction, and mining revenue on-chain, building a "verifiable data foundation for the digitalization of green power plants and the securitization of real-world assets (RWA)."
Canaan stated, "In the longer term, the on-chain data backbone will support the tokenization and securitization of power generation cash flows and carbon credits, enhancing the price transparency and liquidity of green assets, and providing a new paradigm for the integration of the digital economy and energy transition."
According to the Cambridge Bitcoin Electricity Consumption Index, Bitcoin accounts for approximately 0.8% of global electricity consumption.
At the same time, the proportion of renewable energy used for Bitcoin mining is also steadily increasing; according to a report released by the industry organization MiCA Crypto Alliance in April, its annual growth rate is 5.8%.
This is not Canaan's first attempt to power Bitcoin mining with renewable energy. In October, the company launched a "gas-to-computing power" pilot in Canada, converting stranded natural gas into energy for Bitcoin mining, according to its October mining update.
Meanwhile, in September, the mining company signed an agreement with Soluna Holdings—a company operating renewable energy data centers—to deploy mining machines at a wind power data center in Texas.
Related: Fed rate cut bets surge: Can Bitcoin (BTC) ultimately break through $91,000 to set a new high?
Original article: “Canaan plans to create an adaptive green energy mining platform”
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