Market Analysis

Bitcoin Mining T.V. Set – The First Of Its kind, To Be Launched By The ‘Canaan Creative’ Company.

The largest computer hardware manufacturing company in China ‘Canaan Creative’ is also the world’s largest mining rig producer. The company recently mentioned its partnership with a Hong Kong based blockchain start up named ‘AvalonMiner’ to develop worlds first smart TV that can mine bitcoin.

As per what the company claimed, the TV set developed will have a processing power of 2.8 trillion hashes per second. For comparison, Canaan’s most powerful rig can process 11 trillion hashes per second. This AvalonMiner Inside TV set is voice controlled and can calculate mining profitability in real-time.

The digital currency earned from the mining can be used to buy entertainment content or physical gifts through Canaan’s platform.However, as per what we have calculated, the output of a machine with the hash power of 2.8 Trillion hashes per second comes around to be 0.00355 Bitcoin per month with a monthly profit of $26.34 USD at the current price of Bitcoin around $7588.02 USD. During the calculation of these results, electricity consumption was not considered as this information is not revealed by the company currently. However even this little earnings are to be affected, once when the results are recalculated considering the power consumption.  

Founded back in year 2013, Canaan Creative is founded by ’N.G. Zhang’ head quartered at Beijing, China and is skilled in the manufacturing of compact integrated circuit designs. This announcement of the development of such product came after the company submitted an Initial public offering ‘IPO’ application in Hong Kong, with the expectation to raise $1 billion funds through crowd funding.

The hardware manufacturing company ‘Canaan Creative’ is known for mass-producing integrated chips specially designed for the purpose of mining while competing with Bitmain technologies in supplying mining hardware to the community. According to a filing at the Hong Kong exchange, the Avalon Miners miners accounts for nearly 19.5 Percent of the world’s total mining bitcoin mining power.

The TV set developed in collaboration of two major companies specialised in different fields is seeking attention around the globe. Canaan’s future plans seem to be building a broader user base and enable more home appliances to be used as part of privilege for its users, integrating this age with the modern era of the blockchain technology yet to arrive.

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