Mining hardware manufacturer Cannan Creative has announced the launch of the first TV capable of mining.
The name of the new equipment is AvalonMiner Insider. It diversifies the company’s business and it’s one of the first mining household appliances on the market.
The AvalonMiner Insider is powered by artificial intelligence and will also be equipped with voice control.
But that’s not all: it will be able to calculate the yield of mining in real time.
Canaan Creative also offers a linked platform for the purchase of products and gifts using the mined bitcoins.
With this strategy Canaan intends to take a piece of the competitive mining market, dominated by the giant Bitmain that sells 80% of the equipment on the market, followed by Canaan with 15%.
However, the launch of the mining TV does not convince everyone. On the contrary, some people were rather sceptical. For example, according to Xiao Lei, a Bitcoin analyst based in Beijing, it is just an attempt to take advantage of the market’s momentum.
According to Lei, it would have been better to integrate the mining technology in TVs of brands already on the market, rather than launching a new one. Canaan submitted a proposal for an IPO (Initial Purchase Offer) in May on the Hong Kong Stock Exchange, on which the company as a whole was valued at $1 billion.
Initially, the company planned to present its listing on the Chinese stock exchange but preferred the autonomous city because of the national authorities’ negative attitude towards the activity of its customers.
However, the growth in corporate turnover was impressive, with a growth of 27 times between 2016 and 2017, while profit increased 230 times compared to 2015.
The fact remains that the distance from Bitmain is still remarkable and the company hopes to recover with this TV mining.
