Bitcoin mining is incredibly power-intensive, with the computers generating substantial heat. In Canada, one operation has found a way to create a symbiotic relationship with mining rigs by working with a greenhouse in Manitoba to provide needed heat.
Canaan (NASDAQ: CAN) says a 3 MW proof-of-concept project with Bitforest in Manitoba will recover heat from a computing operation and use it to support greenhouse operations.
The pilot is part of Canaan’s broader initiatives to make high-density computing operations more efficient while enabling energy reuse across commercial and consumer applications.
The initial agreement is for a two-year term, with an estimated 90% capture rate of electricity consumed and transferred to a heating system.
Nangeng Zhang, chairman and chief executive officer of Canaan, says they hope to create a replicable model.