Canaan Inc. (CAN) reports strengthened growth momentum following the successful completion of a 3.0 MW proof-of-concept project, signaling validated scalability and technical readiness for larger deployments. The milestone underscores advancing adoption of its core technology in high-demand energy infrastructure markets.
- Canaan completed a 3.0 MW proof-of-concept project with 2.95 MW sustained output during peak testing.
- System uptime reached 98.7% over a 30-day operational period.
- The project exceeded performance projections by 4.5% in energy output efficiency.
- Canaan has initiated pre-qualification with three utilities and secured LOIs for 15.0 MW of follow-on projects.
- CAN stock rose 7.2% in after-hours trading following the announcement.
- Deployment plans for commercial-scale projects are targeted for Q3 2026 in North America and Europe.
Canaan Inc. (CAN) has reported a notable acceleration in its growth trajectory after achieving full operational success in a 3.0 MW proof-of-concept project. The initiative, conducted across a dedicated test site, demonstrated consistent performance under real-world conditions, validating the company’s system design, energy output efficiency, and integration capabilities with existing grid infrastructure. The project’s success marks a critical step forward in Canaan’s commercialization strategy, transitioning from prototype development to deployable solutions. Engineers recorded a sustained energy output of 2.95 MW during peak load periods, exceeding projected benchmarks by 4.5%. System uptime was maintained at 98.7% over a 30-day testing cycle, reflecting robust reliability and low maintenance requirements. This milestone supports Canaan’s broader roadmap to scale operations to multi-megawatt installations, with potential deployment in North American and European markets beginning in Q3 2026. The company has already initiated pre-qualification processes with three regional utilities and signed non-binding Letters of Intent for two follow-on projects totaling 15.0 MW in combined capacity. Market analysts note that the successful execution of this project could position Canaan as a key player in decentralized energy generation. Investors reacted positively, with CAN shares rising 7.2% in after-hours trading, reflecting renewed confidence in the company’s ability to deliver on long-term commercial targets.