publish date 2025-04-30
Singapore, April 24, 2025 — Nangeng "NG" Zhang, Founder and CEO of Canaan Inc. (NASDAQ: CAN), presented his vision for sustainable Bitcoin mining through heat recovery at Gitex Asia in Singapore. Speaking on the "Renewable Energy | Driving Responsible Use of the World's Resources" panel, NG Zhang detailed how mining operations can be transformed from energy consumers into dual-purpose heat generators.
"Bitcoin miners generate substantial heat as a byproduct. Rather than wasting this thermal energy, we've engineered systems that capture and repurpose it for practical applications," NG explained to industry leaders at the event.
Canaan's Avalon Home Series exemplifies this approach with three key products showcased at Gitex:
- Avalon Mini 3: An 800W device that mines Bitcoin while functioning as a space heater
- Avalon Nano 3S: A desktop mining solution with enhanced thermal management
- Avalon Q: A professional-grade home mining system compatible with standard 110V power
"When a Bitcoin miner also serves as your heating solution, the mining operation effectively subsidizes your heating costs," NG noted during his presentation. "By displacing traditional electric heaters with mining devices that produce the same heat plus Bitcoin, we're enabling more efficient use of each kilowatt-hour consumed."
NG emphasized that this dual-purpose approach supports grid stability with Bitcoin miners able to curtail usage during peak demand and increase during excess renewable generation. His vision extends beyond home applications to commercial settings where mining heat can support district heating systems, greenhouses, or water heating.
NG's remarks provided a clear vision for the future of Bitcoin mining as a sustainable and decentralized industry. He argued that Bitcoin mining should not be seen as an energy problem but as an opportunity to accelerate the adoption of renewable energy.
Through innovative hardware design and a focus on decentralized mining, Canaan is leading the way in integrating Bitcoin mining with sustainable energy sources. "Our goal is democratizing access to mining through practical, consumer-friendly devices that serve multiple purposes," NG concluded. "This approach aligns perfectly with Bitcoin's foundational philosophy of decentralization while addressing energy concerns."
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About Canaan Inc.
Established in 2013, Canaan Inc. (NASDAQ: CAN), an innovator in crypto mining, is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, under the leadership of Mr. Nangeng Zhang, founder and CEO, Canaan's founding team shipped to its customers the world's first batch of mining machines incorporating ASIC technology in Bitcoin's history under the brand name Avalon.
Media Contact: pr@canaan-creative.com
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