Canaan Unveils New Bitcoin Mining Machine as It Sees Speedier ASIC Market Growth

Bitcoin mining rig shaper Canaan (CAN) unveiled its caller Avalon 1266 model, aiming to capitalize connected what it expects volition beryllium adjacent faster maturation successful the ASICs market.

The Avalon 1266 volition person 100 terahash per 2nd (TH/s) mining hashrate capableness and 35 joules per terahash (J/T) powerfulness efficiency, said Canaan astatine Bitcoin 2022 Conference successful Miami. The caller exemplary improves from the previous Avalon 1246, which had capableness of 90 TH/s and 38 J/T efficiency.

Compared to Bitmain’s non-liquid cooled miners, Canaan’s caller exemplary specs retired betwixt the S19 (95 TH/s, 34.5 J/T) and the S19 pro (110 TH/s 29.5 J/T). Bitmain’s newest offering, the Antminer S19 XP Hyd. with liquid cooling technology, however, boasts 255 TH/s of computing powerfulness astatine ratio of 20.8 J/T.

Rig manufacturer, MicroBT besides unveiled a caller product astatine the Miami league - the WhatsMiner M50S with 126 TH/s of computing powerfulness and 26 J/T efficiency, coming up of Canaan’s caller offering.

Speaking with CoinDesk, Canaan SVP Edward Lu said his company’s caller miner’s worth proposition is its durability. “If you bargain our machines, you tin usage them for a beingness … You don't person to alteration your instrumentality oregon regenerate them each year.” “A bully miner has to withstand not lone the agelong shipment journeys, but besides the divers operating environments successful which it volition beryllium deployed in,” helium added.

In addition, Lu said, Canaan is mounting up mining work centers globally, truthful that customers tin get faster enactment for their miners. This caller instrumentality and consequent models, tin besides beryllium utilized some with aerial cooling arsenic good arsenic immersion cooling for vigor management.

Pricing for the Avalon 1266 was not yet disclosed.

Speedy marketplace maturation expected

Canaan expects the ASICs marketplace to turn faster than ever earlier arsenic some customers and manufacturers are becoming much professional, portion further cardinal players are joining the industry. “The marketplace is increasing much and much nonrecreational present and with immoderate different planetary cardinal players coming into the market,” Lu said. “I judge this marketplace truly has a imaginable to turn and make further.”

To that point, elephantine chipmaker Intel precocious unveiled its second procreation mining chip, which boasts ratio up to 26 J/T and is highly customizable for enhanced mining power. Canaan’s Lu views Intel’s introduction into the marketplace arsenic a affirmative catalyst, which volition assistance the manufacture go much competitory and assistance turn faster. “Previously this manufacture utilized to beryllium somewhat mysterious, present with large companies coming into the market, it is simply a impervious that the manufacture has imaginable to grow,” helium said, adding that ample companies similar Intel don't get into tiny industries unless there’s sizable imaginable for growth.

Another facet of players similar Intel coming into the industry, said Lu, is that this volition marque the ASIC manufacturing marketplace much competitive, and volition incentivize the incumbents to put further sums. “I deliberation with Intel's coming in, Canaan and each the different peers successful this manufacture should beryllium good prepared for specified competition, successful presumption of technologies and successful presumption of services,” helium said. “I deliberation that Intel coming successful volition truly assistance amended the industry.”