24/7 Market News Snapshot 13 October, 2025 – Canaan Inc. American Depositary Shares (NASDAQ:CAN)
DENVER, Colo., 13 October, 2025 (www.247marketnews.com) – (NASDAQ:CAN) are discussed in this article.
Canaan Inc. (NASDAQ:CAN) has made significant strides in both stock performance and groundbreaking technology initiatives, reflecting its growing presence in the blockchain and computing sectors. Today, shares of Canaan surged by 20.64%, trading at $1.315 after opening at $1.15. This remarkable increase follows a previous session close of $1.09, driven by heightened investor interest and an impressive trading volume of 41.04 million shares. Such enthusiasm indicates strong market confidence in Canaan’s innovative strategies within the rapidly evolving technology landscape.
In tandem with its robust market performance, Canaan has unveiled a pioneering pilot project set to convert flared natural gas into sustainable computing power. Collaborating with Aurora AZ Energy Ltd., a specialist in energy infrastructure, this project aims to leverage stranded natural gas to generate low-cost electricity tailored for high-density computing needs. Anticipating a remarkable uptime of 90%, the initiative will integrate a comprehensive gas-to-compute system, connecting extraction, power generation, and computing seamlessly.
The pilot will utilize over $2 million worth of Avalon® A15 Pro miners, installed directly at wellheads to deliver approximately 2.5 megawatts of computing capacity. This innovative approach not only transforms wasted resources into economic energy but is also expected to significantly reduce CO₂-equivalent emissions by about 12,000 to 14,000 metric tons annually, aligning with global sustainability goals.
Nangeng Zhang, Chairman and CEO of Canaan, highlighted the project’s impact on energy efficiency and environmental sustainability, affirming that it plays a crucial role in the evolving relationship between computing infrastructure and energy innovations. Aurora AZ Energy’s CEO, Jing Shan Zhou, noted that this collaboration effectively provides scalable solutions that convert wasted natural gas into reliable power right at the source.
As Canaan continues to demonstrate leadership in integrating energy and computing, it positions itself at the forefront of sustainable solutions crucial for the future of technology and environmental stewardship.