Canaan Creative, which is the second largest manufacturer of bitcoin mining hardware equipment released Bitcoin Mining TV. The company has come off with the new device to allow people to mine bitcoin at home. Their main aim is to increase decentralization by expanding the bitcoin network. The name of the Bitcoin mining TV is “AvalonMiner Inside”.
Will Avalon Miner is going to help further decentralize bitcoin?
The new bitcoin mining TV has a processing power of 2.8 trillion hashes per second. The most powerful mining machine developed by Canaan Creative possess a processing power of 11 trillion hashes per second.
The AvalonMiner Inside is backed up by Artificial Intelligence and also supports voice control features. Apart from this, the television also consists of an inbuilt mining profitability feature which helps users to check whether their device is working properly or not.
The bitcoin mined using the bitcoin mining TV can be spent on various items listed on the platform offered by Canaan Creative. Some of the items where bitcoin can be spent include entertainment content and physical gifts.
AvalonMiner Inside will be first distributed to the retail businesses which will then sell the product to the consumers. Lately, the company has plans to launch various other home appliances which allow bitcoin mining in the near future.
Not everyone is happy with the product. Xiao Lei, one financial expert from Beijing considers this as a hype. He stated, “It looks more like hype. It will be more meaningful if these companies are able to embed the mining function into existing major TV brands.”
Canaan Creative also declared that “If we cannot maintain the scale and profitability of our single line of system products and, at the same time, offer new products, our ability to continue to grow will suffer.”
As per the details shared by Canaan, AvalonMiner Inside is the base product which will help to gain users for the next generation of blockchain and AI.
Canaan Creative is presently the second largest bitcoin mining hardware manufacturers across the globe. In 2017, the firm sold about 3,00,000 Avalon Bitcoin Miners. The company has increased its profit by 3times in 2017 as compared to 2015. Also, Canaan Creative raised a profit of about $205 million in 2017.
The one and only mining hardware with market share more than Canaan creative is Bitmain. Bitmain is presently trying hard to get listed in Hong-Kong with a US$12 billion value at a pre-initial public offering funding round. Btimain remained silent to announce anything about the matter.