Bitcoin miner Canaan plans adaptive green-energy mining platform

Bitcoin mining and hardware shaper Canaan has entered into a concern to co-develop a renewable-energy adaptive Bitcoin mining platform, expanding its absorption connected greenish vigor arsenic the manufacture seeks sustainable ways to conscionable its powerfulness demands. 

In conjunction with green-power developer SynVista Energy, Canaan plans to make a mining rig that uses an artificial intelligence-powered scheduling motor to synchronize vigor proviso with dynamic hash-rate demand, the miner announced connected Monday. 

The extremity is to maximize the utilization of cleanable vigor without compromising grid stability, according to Canaan.

Canaan said the strategy volition beforehand “green mining from isolated pilots to an engineered, replicable solution,” that volition connection the manufacture an “economically viable and regulation-ready blueprint.”

“High renewable penetration is accompanied by increasing output volatility and mounting curtailment risk. Traditional strategies conflict to person surplus electrons into bankable returns,” the institution added. 

Bitcoin (BTC) mining has agelong been criticized for its vigor consumption, with immoderate estimates claiming it’s astir equivalent to the yearly powerfulness usage of a mid-sized country, specified arsenic Poland oregon Thailand.

However, Bitcoin proponents argue that Bitcoin mining tin enactment grid stableness portion counteracting the strain from AI information centers.

Canaan and SynVista are besides tokenizing RWA

At the aforesaid time, some companies volition tokenize procreation output, c savings and mining yields onchain, to make a “verifiable information instauration for the digitalization and real-world-asset (RWA) securitization of green-power plants.”

“Longer term, the onchain information backbone volition alteration tokenization and securitization of procreation cash-flows and c credits, enhancing terms transparency and liquidity of greenish assets and providing a caller paradigm for converging integer system with vigor transition,” Canaan said. 

Data from the Cambridge Bitcoin Electricity Consumption Index estimates that Bitcoin’s stock of planetary energy is astir 0.8%. 

Source: Cambridge Bitcoin Electricity Consumption Index

However, successful parallel, the stock of renewable vigor utilized successful Bitcoin mining has steadily increased, increasing astatine an mean yearly complaint of 5.8%, according to an April report by the manufacture enactment MiCA Crypto Alliance. 

Related: Canaan banal surges arsenic Q3 gross doubles connected Bitcoin miner demand

Canaan leans into renewables for Bitcoin mining 

This isn’t Canaan’s archetypal foray into utilizing renewables to powerfulness Bitcoin mining. In October, the institution launched a gas-to-computing aviator successful Canada, which converts stranded earthy state into vigor for Bitcoin mining, according to its October mining update. 

Meanwhile, successful September, the miner inked a woody with Soluna Holdings, a institution that operates information centers powered by renewable energy, to deploy miners astatine a wind-powered information halfway successful Texas.

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