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Bitcoin (BTC) Miner AvalonMiner 1246 Released by Canaan with 90TH/s Hash rate. Is That Much?

Canaan Creative releases new AvalonMiner. Will it evolve into a dangerous competitor for Micro BT and Bitmain flagship ASICs?

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Cover image via stock.adobe.com

Canaan Creative mining equipment producers have announced today that they are launching sales of brand new Bitcoin (BTC) mining hardware, AvalonMiner1246. It is the first AvalonMiner with a 90TH/s hash rate and 38 J/TH energy efficiency.

Canaan Creative enters the battlefield

According to the official announcement, new miner Canaan AvalonMiner 1246 will merge high performance and cutting-edge ergonomics solutions. With a power consumption of 3420W and maximum a voltage of 285V, it is packed in compact aluminum coverage.

Reasonable dimensions (331 mm × 195 mm × 292 mm) allow for flexible use of space and are suitable of any type of mining.

Producers emphasize that the new miner is accompanied by high-end coolers, 12038 Cooler Master (12V, 4.5A).They will effectively protect the chips of the miner from overheating, dust accumulation and short circuits.

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A built-in anti-tamper mechanism based on artificial intelligence tracks all fluctuations of the hash rate and adjusts fan settings to prevent the miner from any attacks through patented stabilization algorithms.

Behind the leaders?

In terms of hash rate and power efficiency, Canaan AvalonMiner 1246 cannot challenge the flagship models by MicroBT and Bitmain. As covered by CryptoComes previously, Bitmain Antminer S19 and S19 Pro showcase energy efficiency of 34.5 J/TH while Whatsminer M50S by MicroBT will demonstrate the record efficiency of 30 J/TH. Also, Bitmain Antminer S19 Pro is 22 percent more powerful in terms of hash rate.

👉 MUST READ New Whatsminers May Come in 2020 and Surpass Top Bitmain Antminers for First Timerelated article image

However, this release by Canaan does not look like a disaster at all. Their new models are available right now while the flagship products of the competitors will be shipped by mid-2021.

Furthermore, Canaan finally launched its long-awaited buyback program. Its stocks (NASDAQ: CAN) witnessed a significant price drop, so, Canaan Inc. announced that it will buy some from holders on the free market. The total amount of the repurchase program will expand up to $10 mln.

At press time, CAN stocks are changing hands on NASDAQ at $1.98, or down 78 percent from the IPO price.

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Vladislav Sopov

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)