Canaan Unveils World’s First Coin Mining TV
Chinese bitcoin mining manufacture Canaan Creative has launched what it claims to be the world’s first TV set with embedded bitcoin mining chips. The trend of passive mining is slowly picking up, with home appliances now being used to mine cryptocurrencies.
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Diversifying Crypto Mining
Canaan Creative’s bitcoin mining TV set is dubbed the AvalonMiner Inside. The Avalon TV features A3210 16nm ASIC chips, said to produce 2.8 terahashes per second of mining power.
In comparison, the company’s flagship ASIC bitcoin miner — the AvalonMiner 821 — has a hash rate of 11 TH/s. Other professional crypto miners in the market, such as the Antminer S9 and DragonMint 16T, have processing power of up to 16 TH/s.
The 43-inch Avalon TV features artificial intelligence functions and is also responsive to voice commands. An added feature is the live profitability calculator, offering users the ability to tally proceedings from mining in real-time.
In April, citing rising competition in the mining industry, Canaan hinted at plans to diversify its portfolio by introducing “coin-mining TVs” and other home appliances that can mine cryptocurrencies when not in use.
Per the company:
“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.”
Mine Bitcoin While You Sleep With the Avalon TV Miner
The powerhouse bitcoin mining manufacturer raked in $205 million USD in revenue after selling over 300,000 units of mining equipment for the last reporting period, according to corporate filings with the Hong Kong Stock Exchange. Canaan’s biggest markets are China, the United States, and Sweden.
In May, Canaan Creative filed to go public in Hong Kong, intending to raise $1 billion. Initially, the crypto miner-manufacturer planned to launch the IPO on the mainland. They chose to list in Hong Kong due to fears of Chinese government hostility toward the industry.
Mining Sector Evolves
The sector is rapidly evolving, bringing mining to everyone, with household appliances increasingly doubling as cryptocurrency miners. Embedding crypto mining chips into home appliances can make use of the excess heat the chips release.
Reportedly, Chinese electrical appliance manufacturer Midea Group filed a patent for a technique that would enable household appliances to mine bitcoin. The company planned to implant mining chips in appliances such as TVs and air conditioners. Earlier this year, French startup Qarnot launched a crypto mining heater dubbed QC1.
Is passive crypto mining a sustainable trend? Share your views in the comments section below.
Images via Pixabay