Canaan Creative Bitcoin Miner Releases BTC-Mining Television Set
Bitcoin Miner Television Set
The second largest Bitcoin mining hardware manufacturer globally, Canaan Creative has been involved in the launch of the first television set to be used for BTC mining, this is according to South China post. The television named “AvalonMiner” utilizes a high processing power of close to 2.8 trillion hashes in a single second. Additionally, the TV has been powered by Artificial intelligence and even has a special feature of making voice commands. Currently, the most powerful miner in Canaan processes around 11 trillion hashes in a single second.
Additionally, this new device has a unique power to contain the Bitcoin fluctuation rate in real time. Therefore, the TV set will have the capabilities to allow its users to purchase content especially entertainment content and also all the other features which are in the Canaan platform by the use of the mined digital coins. The device marks the first in the blockchain based home appliances which will be released by Canaan.
Xiao Leo a Bitcoin analyst based in Beijing said the latest move by Canaan was only a hype adding that similar products mead make more sense of the companies had the power to incorporate the mining power into the existing TV brands.
Canaan had applied for a 1 billion dollar IPO with the Hong Kong Stock Exchange in May reporting 205 million dollars in revenue in 2017 which was more than 27 times increase from 2016. In 2017 the company made profits worthy of 52 million dollars which were an increase of more than 230 fold from the profits made in 2015. Looking at the current growth of the company, it’s expected to hit a revenue of 4.1 billion by 2020.
However, the company will still have to face competition from other cryptocurrency mining hardware manufacturing companies. A company like Bitmain is said to have an operating profit of between 3 to 4 billion dollars in 2017. These profits are higher than that of Stalwart American graphics processing unit manufacturing giant Nvidia. Bitmain earned a profit of 1 billion dollars in the first quarter of 2018 and is said to working on an overseas IPO.