Giant Bitcoin Mining Company Canaan Introduces New Devices: Here are the Features of the New Machines!

Bitcoin (BTC) mining hardware manufacturer Canaan introduces two ASIC models with the new Avalon A13 series.

Canaan’s New Bitcoin Mining Devices Enter the Market Ambitious

The company says the A1366 will have a hash rate of 130 TH/s and an efficiency of 25 J/TH, surpassing its predecessors in processing power and power efficiency. It is unclear when shipping will begin.

Nangeng Zhang, chairman and CEO of Canaan, wrote in his filing with the U.S. Securities and Exchange Commission:

“We are currently working day and night throughout the supply chain to prepare for future purchase orders and deliveries of new products for our customers worldwide.”

Ethan Vera, COO of bitcoin infrastructure company Luxor Technologies, said that the new series, and specifically the A1366, is “extremely competitive” in terms of efficiency compared to Bitmain’s flagship S19 XP and MicroBT’s M50S.

The second model, the A1346, has slightly lower specs, with a hash rate of 110 TH/s and an efficiency of 30 J/TH.

Vera continued her statements on the subject as follows:

“We expect the A13 series to attract a lot of attention because of its top efficiency, if the price is in line with its competitors.

Miners are flocking to the latest generation machines because the hash price is falling, creating a dynamic where the most efficient miners have higher resistance to the hash price.”

Hash price is a term that expresses the revenue earned by miners from a unit hash rate in a given time period.

Bitcoin miners have seen their profit margins shrink over the past few months as they deal with the sharp decline in BTC value as energy costs and mining difficulty rise.

*Not investment advice.