Canaan to Release New Bitcoin ASIC Mining Rig

Canaan Creative is releasing a new Bitcoin ASIC mining rig known as the AvalonMiner A911. The news was announced at a mining summit in Chengdu on Sunday, where the company also revealed plans to release a suite of new crypto mining products.

Canaan v Bitmain

According to the company’s official WeChat account, the upcoming crypto mining rig is powered by a 7nm chip and boasts a higher hash rate than the fabled A921, while consuming less energy. That’s some claim.

Canaan’s Sales Director, Chen Feng, elaborated further by stating that the new Bitcoin miner will have a hash-rate of 18 TH/s with a power consumption of 1440w while performing at 80 Watts per TH/s of power usage.

Pleading the Fifth

Chen also divulged plans to roll out a 5nm Chip in the very near future. This appears to be something of a curve-ball, given that it was only in August that Canaan unveiled an industry-first, 7nm crypto mining chip for use with the Avalon Miner A9.

Perhaps it has something to do with the comments made last week by bitter rivals Bitmain, in which it claimed to be planning a trial production of 5nm technology.

Home is Where the Exorbitantly Expensive Crypto Mining Equipment Is

As well as the A911 ASIC miner, Canaan is also working on a variety of new crypto mining products and peripherals geared towards household use. This includes a cloud computing heater, a mobile mining farm called the Avalon Box and an AI chip by the name of Kendryte.

As part of these planned incursions on our domestic bliss, Canaan launched a Bitcoin mining television in August. Named the AvalonMiner, it’s equipped with A3210 16nm chips and can generate an eye-watering 2.8 trillion hashes per second. That you’ll probably have to remortgage your house or move into a cardboard box to afford one seems to be lost on Canaan Creative (we jest).

Rivals

Canaan is certainly beginning to make headway in the pursuit of its great rival. It filed a $1 billion IPO application in May, thereby outdoing Bitmain who have yet to do so, and also reported more than $205 million in revenue for 2017. So it appears that the battle between these too crypto mining giants is set to continue for some time. We can’t wait to see how it plays out!

Related Posts