World's second biggest creator of Bitcoin Miner Canaan sells the BTC-Mining TV


Canaan Creative, the world's second largest producer of Bitcoin data mining hardware (BTC), has launched what is the first "BTC mining TV set", the South China Morning Post (SCMP) reported on August 2

"AvalonMiner Inside", the device has a processing power of 2.8 trillion hashes per second, and is reportedly powered by artificial intelligence (AI) in addition to being able to perform voice commands. In contrast, the most powerful Canaan rig can process 11 trillion hashes per second, known as SCMP.

The device also calculates the fluctuating Bitcoin profitability rate in real time, writes SCMP and allows users to purchase entertainment content or other products on the Canaan platform using the cryptography they have extracted.

While the new device is referred to as the first of a series of household appliances connected to the blockchain that will be released by the company, some spectators of the cryptosphere have expressed skepticism towards the new product. [19659002] The Beijing analyst Bitcoin Xiao Lei is quoted by the Post as denigration of the last move of Canaan as "exaggeration", adding that such products "[would] are more significant if these companies are able to incorporate the mining function into major existing TV brands.

Canaan filed a request for an initial $ 1 billion (IPO) public offering to the Hong Kong Stock Exchange in May, reporting 1.3 billion yuan (approximately $ 205 million) revenue in 2017, an increase of 27 times compared to the previous year.

Profits in 2017 were 361 million yuan (about $ 52 million), an increase of over 230 times compared to the According to Bloomberg, according to reports, the consulting firm Frost & Sullivan predicts that the revenues of Canaan will hit 28.6 billion yuan (about 4.1 billion dollars) by 2020.

However, the competition is steep in the lucrative manufacturing sector hard Chinese cryptic ware, with rival Bitmain gaining between $ 3 and $ 4 billion in operating profits in 2017 – higher than the faithful American graphics processing unit (GPU) that manufactures the giant Nvidia in the same period. At the end of July, Fortune reported that Bitmain earned about $ 1 billion in net profit for the first quarter of 2018 and presumably will soon be a candidate for an IPO overseas.

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