Canaan Inc. (NASDAQ: CAN), the Bitcoin mining equipment manufacturer, has secured a contract to provide heat-recovery computing infrastructure to a district heating network in the Nordic region, the company announced today.

The deal centers on Canaan’s Avalon A1566HA hydro-cooled mining units, which capture thermal output from Bitcoin mining operations and redirect it as hot water into residential heating systems. The units generate water at approximately 80 degrees Celsius — a temperature range compatible with existing district heating infrastructure.

The project is structured in two phases. A first phase of 228 A1566HA units, totaling 2 MW of heating capacity, is…

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