Publicly traded companies launch new mining facilities, less hashrate than the competition

Two of the leading Chinese mining producers who recently had initial public offerings (IPOs) have released two new mining rigs. Canaan Inc. and Ebang Communications both have shares listed on the Nasdaq stock exchange, and the two companies have just launched two ASIC mining devices with hashrates up to 63 terahash per second (TH / s).

The two Chinese mining rig manufacturers ASIC Ebang and Canaan recently released some new bitcoin mining devices. Canaan launched the Avalonminer 1146 Pro (63TH / s), while Ebang released the E12 + (50TH / s).

Interestingly, both companies are listed on the US Nasdaq stock exchange, while the other two powerful ASIC-producing competitors, Bitmain and Microbt, are not yet public companies. On the flip side, the new machines from Ebang and Canaan don’t produce as much hashrate as the latest units from Microbt and Bitmain.

The Canaan Avalonminer 1146 Pro “comes with a hashrate of 63TH / s and an energy consumption of [around] 3276W, “according to specification. The new Avalonminer was announced in June and pricing is available on request only.

Also, it is not known what the size of the ASIC chips used in the new Canaan 1146 Pro model is. The new Ebang E12 + has a price tag displayed on the site, as the machine retails for $ 1,500 per unit. The E12 + boasts a hashrate of around 50 terahash per second and an efficiency rating of around 2500W off the wall.

Now the E12 + has a much lower power consumption than the Avalonminer 1146 Pro, but that’s 13 terahash less, as far as hashrate output is concerned. The Canaan machine has a hair consumption lower than the Microbt Whatsminer M30S ++, which is a whopping 3472W off the wall according to statistics.

All four of the best SHA256 mining rigs have over 3000W per unit off the wall, but all claim to produce 95 TH / s or more. Bitmain’s Antminers and Microbt’s Whatsminers offer practically double the hashrate compared to the new devices from Ebang and Canaan.

The Microbt Whatsminer M30S ++ and the first iteration of the M30S model offer hashrates between 100-112TH / s, but these devices won’t ship until October. Miners can purchase Bitmain models, which are readily available especially on secondary markets. Bitmain’s Antminer Due S19s produce 100-110 terahashs per second. The Antminer S19 Pro (110TH / s) is the most profitable ASIC device on the market today.

As Canaan pricing is not yet available, there are no profitability metrics provided by the analytics websites. However, Ebang’s E12 + shows that at current bitcoin (BTC) prices, the new machine is profitable from $ 0.80 to $ 2.00 per day. However, the top four machines produced by Bitmain and Microbt are making $ 5-10 per day, depending on the model.

As previously mentioned, both Microbt and Bitmain have not gone public by selling shares on major stock markets. Though there were rumors last year that Bitmain had confidentially requested an initial public offering (IPO), which was never made.

Despite the lack of IPO status, these two companies (Microbt and Bitmain) still have a much larger market share when it comes to ASIC mining rig sales than Ebang and Canaan. Additionally, Microbt has been hot on the heels of Bitmain, the company that holds most of the world’s market share for ASIC sales.

Canaan and Ebang have been listed on the Nasdaq, but the machines they are releasing are far less powerful than competitors’ offerings.

Canaan stock is not doing well and each stock is selling for $ 2.50 today as the stock fell 7% on Saturday afternoon. Canaan shares are sold under the ticker “CAN” (NASDAQ: CAN), which went on sale on November 21, 2019, and the company sold $ 90 million worth of US stock. CAN stock exited the gate at $ 8.99 per share, which represents a massive loss of around -72.19%.

Ebang’s stock is doing much better, but it hasn’t been sold on the market in a long time. Ebang’s “EBON” (NASDAQ: EBON) came out at $ 5 per share on June 26, 2020. The shares hit an all-time high of $ 5.50 on July 15, but EBON was down -8, 59% after the market close on Friday at $ 4.57 per unit.

What do you think of the latest Canaan and Ebang mining rigs? Let us know what you think about this topic in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons, Ebang, Canaan, Asicminervalue.com, Google,