Canaan Launches Bitcoin Mining TV ‘Avalon Miner’
Canaan Creative, the world’s second-largest producer of Bitcoin mining equipment has launched the first bitcoin mining television. This launch is a part of an initiative to build a new generation of smart, connected devices that will support blockchain development and Internet of Things (IoT) frameworks.
This new device is called the AvalonMiner Inside and in addition to being marketed as a smart tv, this device has a processing power of 2.8 trillion hashes per second. Canaan’s current most powerful mining device has a processing power of 11 trillion hashes per second, which makes AvalonMiner nearly 25% as powerful as their top rig.
According to the company, this new TV has features that both regular users and crypto miners will find useful. These features include voice control, real-time bitcoin mining profitability display and a digital tether to Canaan’s platform that allows users to pay for entertainment content and physical gifts using mined Bitcoin.
However, not everyone has received this product with positivity as some have said it is nothing but a marketing gig. Xio Lei, the Beijing based bitcoin analyst is one of these critics. He 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.
However, the launch of this new device may be more than just a marketing stunt when we look at Canaan’s broader strategy. The company states that it wants to be in more areas than just manufacturing ASIC mining chips and stay restricted to that one line of products for its business and profits.
In its IPO filing in Hong Kong, the company noted,
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.
According to Canaan, the AvalonMiner is one of many products to be introduced that will prepare a user base ready for the next generation of blockchain and AI.
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