Canaan Creative, the second biggest producer of Bitcoin mining gear in the world, has recently announced what it appears to be the first Bitcoin mining TV set in the world.
Earn Cryptos with Your Bitcoin Mining TV
Canaan Creative has definitely justified its name with the recent announcement. The company has come up with a new way of mining cryptos in the form of a 43” TV set that also serves as a mining rig for Bitcoin. The product is called Avalonminer Inside, and it comes with built-in A3210 16nm ASIC chips. It can process at a power of around 2.8 terahashes per each second.
Additionally, the TV is being powered by AI, which allows it to precisely calculate how profitable the mining is in true-time. Not only that, but Canaan also stated that it will have a voice control feature, as well as a 4K resolution for the users’ enjoyment.
Also, the Bitcoin mining TV will allow the user to buy either physical gifts or entertainment content via Canaan’s platform. As for Canaan, the company hinted that there are plans to predominantly sell the set to those businesses that are willing to distribute them to customers in retail.
Canaan’s Product Line to Expand
Canaan has had another big event earlier this year when they filed for an IPO with the stock exchange of Hong Kong. Canaan’s filing states that the company managed to take in around $1.3 billion yuan, which translates to around $200 million, back in 2017. This represents an entire 27-fold increase when compared to its year-over-year revenue.
In 2017, Canaan managed to sell around 300,000 mining rigs, which represents around 19.5% of the total processing power that the crypto mining industry is generating. The filing also indicates that Canaan aims to expand the product line. The company stated that if they can’t maintain the profitability and scale of the single product line while they are launching new products simultaneously, their ability to continue their growth is going to suffer.
Of course, while many were excited to hear that the Bitcoin mining TV might soon arrive, there were also those who completely dismissed the entire project. One such individual is Xiao Lei, a cryptoanalyst from Beijing. Lei described the mining TV as a hype, stating it would be a much more meaningful achievement if the company was to embed the crypto mining feature into already-existing popular TV brands.
There are also many who have started to wonder whether this move will open a new trend of making various home appliances capable of mining cryptos. To this, the company responded that it has no such plans, which indicates that they might stop at mining TVs. However, this still doesn’t provide a guarantee that someone else won’t continue where Canaan has left off.