Summary
- Canaan has signed a contract to supply Bitcoin miners to a Japanese power company.
- The partnership is said to be part of cooperation for research on energy efficiency and grid stability management.
- There are assessments that Bitcoin mining is being incorporated into Japan's national infrastructure.
Canaan, a manufacturer of Bitcoin (BTC) miners, has signed a contract to supply Bitcoin miners to a Japanese power company. The contract is reported to have been pursued for the purpose of research on grid stability.
On the 31st (local time), according to virtual asset (cryptocurrency) specialist media The Block, Nasdaq-listed Canaan did not disclose specific cooperation partners, but industry sources have suggested it could be Tokyo Electric Power Company (TEPCO), Japan's largest power company. TEPCO conducted a Bitcoin mining test in 2024 using excess renewable energy through a subsidiary project.
Canaan said, "This partnership is part of cooperation to apply mining technology to research on energy efficiency and grid stability management." The company plans to participate in expanding eco-friendly mining infrastructure in Japan going forward.
Matthew Sigel, head of digital assets at VanEck, said, "The inclusion of Bitcoin mining as an official research subject within Japan's energy network suggests that virtual asset mining is being incorporated into national infrastructure."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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