- Canaan Inc. has released a 1566 Bitcoin miner with exceptional efficiency of 18.5J/T and 185T hash power.
- Executives from the company intend to invest $2 million in cheap Canaan stocks, demonstrating their faith.
Prominent participant in the blockchain hardware manufacturing market, Canaan Inc. has unveiled the A1566 Bitcoin miner, a new addition to their Avalon series. Famous Chinese crypto journalist Collin Wu notes this launch and emphasizes Canaan’s ongoing innovation in the realm of cryptocurrency mining technology.
Canaan Inc. launched the new product A1566 of Avalon A15 series, an upgraded bitcoin mining machine with Canaan's most advanced technology. A1566 has energy efficiency ratio of 18.5J/T, with its 185T hashing power and 3420W power consumption. https://t.co/zzI6pNs6uO
— Wu Blockchain (@WuBlockchain) May 9, 2024
Technologies in the A1566
At 18.5 joules per terahash (J/T), the A1566 model of the Avalon A15 series is a major advancement in mining technology. At 3420 watts of power usage and an astounding hashing power of 185 terahashes per second (T), this efficiency is attained.
Of course, these features make the A1566 one of the most potent and effective miners on the market right now, and they establish a new standard for rivals.
Release of the A1566 series is a component of Canaan’s larger plan to strengthen their leadership position in the very competitive mining hardware industry while also advancing their technology. With its collaborations with important stakeholders, market research, and product development, Canaan has been working hard.
Such actions are needed to offer reliable and high-quality mining solutions, particularly in the post-halving Bitcoin period, where lower mining payouts have made miner efficiency even more important.
Confidence of the Executive and Financial Action
Mid-April brought word of a related development: top executives of Canaan are expected to buy at least $2 million worth of company stock. This move coincides with a recent sales decline and is widely regarded as highly inexpensive by the corporation.
Also, the management’s decision to make a sizable investment in Canaan shares is a powerful statement of their belief in the company’s prospects and market value.
On the other hand, as ETHNews previously reported, Marathon Digital disclosed a 21% rise in Bitcoin output in April, strengthening their position in the market.