Overview
- Canaan, which on Tuesday announced an 8 MW expansion in the Nordics, saw its shares fall about 7% in pre-market and extended trading.
- The scale-up adds 692 Avalon A1566HA units to an initial 228-machine, 2 MW pilot to reach capacity for roughly 2,800 homes.
- The hydro-cooled rigs run in parallel and can be overclocked or underclocked to hold steady output, producing about 80°C water suited to district pipes.
- An unnamed Nordic heating provider placed the follow-on order in March 2026 after a competitive review, and the company did not disclose contract terms.
- District heating uses central hot-water networks to warm buildings, which makes the Nordics a natural test bed for heat reuse from computing.