Abstract: An aquaculture system is disclosed in which feeding and aeration are provided by a bottom mounted piping system. In addition, floating surface panels may provide thermal insulation. The bottom mounted piping system allows a food and oxygen slurry to be injected into a pond even when the floating surface panels cover the pond. The floating surface panels may allow an air bubble to form between the pond surface and the panel to aid in thermal insulation. The aquaculture system is particularly adapted for use as a shrimp farm system.