Canaan Bitcoin Mining Heat Recovery Project: Successful Greenhouse Trial in Canada Gains Attention

Source: TokenPost Original Title: Canaan uses Bitcoin mining waste heat for greenhouse heating… Environmental model experiment in Canada Original Link:

Bitcoin mining waste heat used for agricultural greenhouse heating

Hardware manufacturer Canaan(Canaan) has launched an eco-friendly Bitcoin(BTC) mining project in Manitoba, Canada. By recycling the heat generated by mining machines for greenhouse heating, while ensuring energy efficiency and sustainability.

Canaan is collaborating with Bitforest on a 3-megawatt(MW) pilot project. This 24-month trial operation will deploy 360 liquid-cooled mining units ‘A1566HA-460T’ and 4 cooling modules. These devices will be installed in Bitforest’s tomato greenhouses, with an annual operation rate target of 95%.

The project focuses on whether high-density computing equipment can serve as a practical heat source in cold environments. Traditionally, waste heat from mining is directly released into the atmosphere, but this project shifts toward energy saving and recycling.

Canaan estimates that about 90% of the entire server power can be used for heat recovery. The recovered heat can produce hot water above 75°C, with electricity costs at approximately $0.035 per kWh(about 51 RMB). This is highly attractive economically for agricultural sites requiring high-temperature heat.

Win-Win Effect of Mining and Agriculture Integration

The heat generated by mining machines preheats the water entering the greenhouse’s electric hot water boiler through a sealed heat exchange system. This method effectively reduces direct heating costs while maintaining optimal crop growth temperatures.

The project also measures heat recovery efficiency, system stability, long-term operation feasibility, and evaluates potential capital savings such as reduced costs for industrial cooling towers.

Bitforest’s Manitoba facility grows tomatoes year-round, especially needing stable heat supply during winter to maintain yields. If this project proves successful, the “mining heat utilization” model could be promoted across agricultural facilities in Canada.

Eco-friendly Mining Becomes an Industry Trend

The Bitcoin mining industry is showing a clear trend toward environmental and sustainability focus. Kevin O’Leary(Kevin O’Leary) recently emphasized in an interview: “Institutional investors now want sustainably mined Bitcoin.” He cited a mining facility in Norway as an example, pointing out that “coins produced with excess electricity carry energy value.”

Supporting data for this trend continues to emerge. Independent analyst Daniel Batten(Daniel Batten) refuted claims that “Bitcoin mining destabilizes the power grid” through reports. Based on actual grid data and academic papers, he states, “Mining provides demand response functions, which can induce grid stability and consumer cost savings.”

Duke University’s white paper also reaches a similar conclusion: as a “Controllable Load Resource(Controllable Load Resources)”, Bitcoin mining is indispensable in grids with a high proportion of renewable energy.

Accelerating Renewable Energy Conversion, Coal Share Plummets

The Bitcoin mining network is undergoing a major energy source transition. According to a Cambridge University report, the renewable energy share, which was only 37% in 2022, has now exceeded 52%. Of this, 9.8% comes from nuclear power, with the rest from hydro, solar, wind, and other sources.

Non-renewable energy sources have also changed significantly. Coal, once the largest power source at 36.6%, has fallen to 8.9%, while natural gas has surged to 38.2%, becoming the largest energy source. This indicates that mining companies are moving toward off-grid strategies or acquiring low-cost electricity to reduce carbon emissions.

Canaan’s experiment goes beyond simple technical demonstration, showcasing that the Bitcoin mining industry can combine eco-friendliness with substantial social value creation.

Market Interpretation

Bitcoin mining is evolving from a pure energy-consuming industry to a circular energy model. Heat recovery, especially in cold climates like North America, can create synergistic effects with agriculture, making it worth attention from industry expansion and ESG perspectives.

Key Points

• Heat recovery from mining equipment can reduce fixed costs and diversify revenue streams
• Mining linked to renewable energy serves as a marketing tool for institutional investors
• Expansion of eco-friendly mining infrastructure in North America will boost regional economic contributions

Terminology Explanation

Liquid-cooled mining(Liquid-cooled mining): Using liquid cooling for mining hardware components to maximize heat efficiency

Heat recovery system(Heat recovery): Technology that recovers waste heat for other purposes(such as heating)

Controllable Load Resources(CLR): End-use devices that can adjust electricity consumption based on conditions