Business Canaan Launches Its First Bitcoin Miner With 90 TH...

Canaan Launches Its First Bitcoin Miner With 90 TH / s Processing

Canaan, one of the most recognized manufacturers of equipment for Bitcoin mining, launched its first miner that reaches the barrier of 90 TH / s in processing power.

It is the AvalonMiner 1246, the first of the A12 series of the company that created the first dedicated mining equipment (ASIC) for Bitcoin. The company announced the launch of its new miner through a press release, this Monday, September 21.

In addition to its processing power, the AvalonMiner 1246 also offers an energy efficiency of 38 J / TH and a consumption of 3,420 watts, according to specs of the product available on the Canaan website.

This equipment, with the power of 90 TH / s, would become 5th most powerful among Bitcoin ASICs, as seen through AsicMinerValue. Ahead of 1246, we would find two Bitmain teams, the S19 and S19 Pro; and another pair of MicroBTs, the Whatsminer M30S + and MS30 ++. These teams remain the most powerful and efficient to date, as we recently reported in CriptoNoticias.

The company founded in 2013 did not offer details on the price of the new miner, neither in its press release nor in the product specifications. For reference, we have the Antminer de bitmain and Whatsminer by MicroBT The most powerful on the market have prices ranging from $ 1,785 to $ 3,900, according to the websites of both companies.

The AvalonMiner 1246 achieves a processing power of 90 TH / s. Source: @canaanio / Twitter.com

Profitability under discussion

Previously, Canaan had launched the AvalonMiner 1146 Pro. Although with the launch of the new equipment they are approaching the power of competing miners, the problem remains profitability, such as we review on the 1146 Pro. Real-time data from AsicMinerValue corroborates this problem.

In the first instance, the arrival of the reward reduction with the third halving of Bitcoin, would have compromised the profitability of miners. However, AsicMinerValue’s calculations are based on high power consumption costs.

Some countries have subsidies for electricity consumption, that allow to maintain a good profitability mining in Bitcoin. Recently, we review such a situation in Iran. The Asian country would currently have more than 3.6% of the grid’s total processing power, thanks to the delivery of licenses and low electricity costs, local media commented.

Meanwhile, Canaan is looking to bounce back from tough months, after report losses close to 150 million dollars during 2019 and another 5.6 million in the first quarter of 2020, as we report in this newspaper.

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