Canaan Creative launches first-ever TV capable of crypto-currency mining

Crypto News

The world’s second largest manufacturer of mining equipment Canaan Creative has recently unveiled  his new toy “Avalon Miner Inside”, a TV set that can mine Bitcoins.

With a processing power of “2.8 billion hashes per second” , or 2.8 TH / s, the capabilities of the TV appear quite decent, knowing that it is possible to watch a film while undermining crypto -monnaies. Canaan Creative’s most powerful mining machine processes 11,000 billion hashes per second.

On the one hand powered by artificial intelligence, the TV has a voice control. The profitability of mining Bitcoins is calculated in real time, according to the Canaan release.

On the other hand, “earned coins can be used to purchase entertaining content or physical gifts through the Canaan platform. “

A marketing strategy

The company hopes to capture a significant share of the mining market with the launch of this new device. Its fiercest competitor Bitmain  accounts for  80% of equipment sales in the cryptocurrency mining industry, compared with only 15% for Canaan.

“Unfortunately, some remain skeptical about the real added value provided by this invention. The television that mines cryptocurrencies is just an attempt to take advantage of the market, says Xiao Lei, a Bitcoin analyst living in Beijing.

He argues that by strategically choosing mining technology using existing brand TVs would be a better choice than developing a brand new one.

Avalon Miner Inside looks oddly like the mining chip of a unbranded TV released last season. While developers are trying to convince people of the relevance of this device, the ASIC chip can not bring anything more to the TV. Also, the TV processor certainly has no effect on the mining computing power.

Other initiatives

Nevertheless, the mining TV is apparently only a beginning. Canaan plans to integrate virtual currency mining into appliances.  The crypto-enthusiasts certainly wait to see what argument Canaan will rely on to justify the consumption of electricity while making a profit despite this.

In parallel,  last May Canaan submitted an application for listing on the Hong Kong Stock Exchange. The company as a whole was valued at $ 1 billion.

Are you interested in the cryptocurrency mining platform integrated into a television set? Tell us in the comments section below.

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