Canaan Creative has announced that it plans to sell a 43” television set that doubles as a bitcoin mining rig – dubbed the Avalonminer Inside. Canaan, the world’s second largest manufacturer of mining rigs, stated that its television is equipped with A3210 16nm ASIC chips and is capable of processing at a power of 2.8 terahashes per second. Canaan also states that the Avalon mining TV is powered by artificial intelligence, can calculate the profitability of bitcoin mining in true-time, will include a voice control feature, and features 4K resolution. The television will also facilitate the purchase of entertainment content or physical gifts through Canaan Creative’s platform. Canaan has indicated that it plans to predominantly sell the Avalonminer Inside to businesses intending to distribute the TVs to retail customers. Earlier this year, Canaan filed for initial public offering with the Hong Kong stock exchange. According to its filing, the company took in $1.3 billion yuan (approximately $200 million USD) during 2017 – comprising a 27-fold increase in its year-over-year revenue. The company sold almost 300,000 Avalon mining rigs in 2017, reportedly representing 19.5% of the processing power generated by the global mining industry. In its filing, Canaan indicated its desire to expand its product line, stating: “If we cannot maintain the scale and profitability of our single line of system products and, at the same time, offer new products, our ability to continue to grow will suffer.” Beijing-based analyst, Xiao Lei, has largely dismissed the project, describing the mining television as “looking more like hype,” adding “It will be more meaningful if these companies are able to embed the mining function into existing major TV brands.” The company has indicated that it has no plans to develop additional cryptocurrency-centric home appliances. Charlie Shrem is a Bitcoin pioneer, a social economist and digital currency trader. His work in this field is legendary. In 2011, at the dawn of the crypto era, he founded BitInstant, the first and largest Bitcoin company. In 2013, he founded the Bitcoin Foundation and serve as its vice chairman. Since then, Charlie has advised more than a dozen digital currency companies, launched and managed numerous partnerships between crypto and non-crypto companies, and is the go-to guy for some of the world’s wealthiest entrepreneurs. In short, he is the ultimate insider at the epicenter of the crypto universe. Crypto.IQ is a premier advisory firm providing expert research, education and advice in the world of cryptoassets. The company is unique in that it combines the unparalleled expertise of crypto pioneer Charlie Shrem with the unparalleled market knowledge of three Wall Street experts with more than a century of combined financial industry experience. Together, they have managed and traded more than $1 billion in assets. In a world of “instant experts,” who have little knowledge or trading experience, the Crypto.IQ team offers the proven depth, insight and knowledge to help their clients achieve success. Raise your Crypto.IQ…and profit! Crypto.IQ gives you the insider knowledge you need to succeed as a cryptocurrency investor.
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