Canaan, Bitcoin Mining Company Launches First Bitcoin Mining TV

Nishanth Shetty

August 3, 2018 6:05 pm

Crypto Mining

Canaan, Bitcoin Mining Company Launches First Bitcoin Mining T.V | Coindelite News
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Recently Bitcoin Mining Giant, Canaan, has announced that it will be launching a personal mining rig for its customers. This will allow them to mine bitcoins in the comfort of their homes.

Pople used to mine Bitcoins using computers, then smartphones and now television. World’s second largest Bitcoin Mining firm, Canaan Creative is launching world’s first Bitcoin Mining television. The name of the tv will be AvalonMiner Inside. The tv would be manufactured with a built-in Bitcoin mining chip and with Android compatibility for mobile control. According to the reports, the tv has a processing power of 2.8 trillion hashes per second. It is also going to be the most powerful mining machine which can process 11 trillion hashed per second.

The company said:

“If we cannot maintain the scale and profitability of our single line of system products and, at the same time, offer new products, our ability to continue to grow will suffer.”

N.G Zhang founded Canaan in 2015, and the firm is famous for manufacturing Bitcoin mining chips. Bitmain Technologies is the biggest competitor of Canaan. The firm had recently submitted an IPO application in Hong Kong in May 2018. The IPO is expected to raise more than $1 billion in funds.

According to the announcement, the AvalonMiner Inside is powered by artificial intelligence and has a voice feature. It can also count Bitcoin mining profitability in real-time. 

The launch of the TV set is part of the company’s plan to build a broader user base. It also plans to make home appliances as part of the next generation of blockchain technology. Distribution will be carried out to businesses that will, in turn, sell to customers. The users can buy entertainment content or any gifts using mined coins.

Xiao Lei, a Beijing-based Bitcoin analyst, said:

“It looks more like hype. It will be more meaningful if these companies are able to embed the mining function into existing major TV brands.”

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