Canaan to supply Bitcoin mining rigs for Japan’s electric grid stability project

Bitcoin mining hardware producer Canaan secured a contract to provide 4.5 megawatts (MW) of its water-cooled Avalon A1566HA-488T mining ASICs to a Japanese electrical engineering solutions provider. This deployment is intended for a project focused on achieving "real-time grid balancing and energy-efficiency optimization" for the regional electric grid. The mining operation will continuously adjust its power consumption, utilizing Canaan’s proprietary control systems to dynamically alter frequency, voltage, and hashrate to match power supply and demand fluctuations. Canaan's CEO, Nangeng Zhang, noted that this system allows utilities to use Bitcoin mining as a digital load balancer, improving sustainability and efficiency, building upon a similar project previously supported in the Netherlands. Crypto mining serves as a fast, controllable demand response, capable of absorbing surplus renewable energy or quickly shutting down when the grid requires power, which can prevent price spikes and potential outages.

(Source：Cointelegraph)