Canaan Creative – One of the Largest Bitcoin Miners – Releases TV That Mines Bitcoin (BTC)

The second largest Bitcoin (BTC) mining hardware manufacturer in the world – Canaan Creative, recently launched what it says is the first ever Bitcoin mining TV set – according to the SCMP (South China Morning Post).

AvalonMiner Inside

The home appliance is tagged “AvalonMiner Inside” and its processing power is 2.8 trillion hashes per second. It is also said that the appliance is powered by artificial intelligence and it has voice command features. The device is also capable of calculating Bitcoin (BTC) mining profitability fluctuation rate in real-time.

According to the report, the device allows users to buy entertainment content and other types of products on the platform of the firm using the coins they’ve mined. While this TV set is allegedly the first blockchain-based home appliances to be launched by the company, some onlookers in the crypto space have shown cynicism towards the invention.

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Xiao Lei’s Take on the Product

Xiao Lei – a Bitcoin (BTC) analyst based in Beijing, is quoted by SCMP as disparaging the latest move of Canaan Creative as “hype.” He also went ahead to say that it would be more meaningful if the firm is able to incorporate the mining function into already existing television brands.

Canaan Creative Profit Trend

 The firm filed an application for a $1 billion IPO (initial public offering) in May, reporting a revenue of about $205 million in 2017 – an increase of 27-fold form the previous year. It made a profit of about $52 million in 2017 – which is an increase of more than 230-fold from 2015, according to Bloomberg.

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Bitcoin (BTC) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$6,519.78
0.72%

Bitcoin (BTC) is still the largest digital currency in the world with a market cap of $128.10 billion. At the time of writing, the coin is trading at $7,450 after an increase of about 1 percent over the past twenty-four hours, and the trading volume of the coin over the past twenty-four hours is $4.1 billion.


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