Canaan Creative all set to launch world’s first TV mining set

Canaan creative, producer of Bitcoin mining gears has announced that it is all set to release the world’s first television mining set, a 43-inch TV set. It is embedded with a Bitcoin miner that will use Canaan’s Avalonminer Inside, featuring a 4K resolution.

They stated that the proposed plan is in line with the hope to promote greater decentralization on the Bitcoin network.

In a statement issued in the South China Morning post, Canaan stated that the Avalon mining TV is mechanized by Artificial Intelligence and a mining calculator that predicts the profitability of the mining device in real-time. The set will also be enabled with a voice control feature. Additionally, the TV is equipped with ASIC chips [A3210 16nm] and boasts to process at a speed of 2.8 terahashes per second.

With the advent of the TV set, Canaan strives to facilitate the purchase of physical gifts through its creative platform. Revelations indicate that Canaan plans to broadly sell the Avalonminer Inside to enterprises that intend to sell the TV sets to retailers. The company also has plans of developing more cryptocurrency-centric home appliances.

Canaan has sold about 300,000 Avalon mining rigs in 2017, tripling the number from the previous year. According to the filing made by Canaan to the Hong Kong stock exchange, its profit in 2017 was 361 million yuan, which was up by more than 230 times from 2015.

In its filing, Canaan stated that their ability to grow further will suffer if they are unable to maintain scalability and profitability of their single line of system products and simultaneously offer a new range of products.

Citing data from the consulting firm Frost & Sullivan’s filing read, “Avalon miners accounted for 19.5 percent of the world’s processing power for mining bitcoin”.

Financial expert, Xiao-Lei from Beijing, describes the mining television as:

“It looks more like hype,”

He further added:

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

Subscribe to AMBCrypto’s Newsletter


Source: Read Full Article