Canaan Creative will launch a TV capable of mining Bitcoin

[Brazio]

Canaan Creative, the world's second largest maker of Bitcoin mining software (BTC), has launched what it claims is the "first" BTC mining television, according to the South China Morning Post (SCMP) on August 2. .


Dubbed "AvalonMiner Inside," the device has a processing power of 2.8 billion hashes per second and is reportedly powered by artificial intelligence (AI), in addition to being able to receive voice commands. In contrast, the most powerful mining platform in Canaan can process 11 trillion hashes per second, says SCMP.


The device also calculates Bitcoin's fluctuating rate of mining profitability in real time, writes SCMP, and allows users to purchase entertainment content or other products on the Canaan platform using the crypto they have mined.


While the new device is reportedly the first in a series of household appliances related to blockchain that the company plans to launch, some viewers of the cryptosphere have expressed skepticism about the new product.


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[The CC Forums]

“Dear, turn off the TV. Our electric bill was horrible last month”.

“I can’t darling, I’m mining bitcoins. We get paid to watch it.”

“Oh, how much?”

“About 0.0001 bitcoin per month. What was the electric bill?”

$1,000/month

 

[Old Man Crypto]

Can it also remove all the crap? Is their a blockchain filter for bad programming?
Seriously though, is the mined coin just used for buying entertainment through the seller? If so that’s pretty useless right now.

I agree with the site boss too, can you imagine the electric bill? Whew.

 

[CryptoTC]

It’s just a powerful computer in a TV form.

The same can be accomplished with any monitor and a little ingenuity. Will it have standard video inputs for satellite and cable along with HDMI etc? I can only imagine how hot that thing will get.

I found this info but it doesn’t explain programming inputs and price:

Chinese Firm Introduces Bitcoin-Mining TV - Cryptovest

Called AvalonMiner Inside, the TV set has a processing power of 2.8 trillion hashes per second. Its most powerful mining machine can process 11 trillion hashes per second.

The product launch comes after Canaan submitted an application for an initial public offering in Hong Kong in May, which is expected to raise as much as US$1 billion. Founded in 2013, Canaan is known for mass-producing chips designed for bitcoin mining. It competes with Beijing-based Bitmain Technologies in supplying hardware for bitcoin mining.

Canaan says the Avalon TV is powered by artificial intelligence and has a voice control feature. In addition, the device can calculate bitcoin mining profitability in real-time. The digital currency earned can be used to buy entertainment content or physical gifts through Canaan’s platform.

The creation of AvalonMiner Inside is to enable more home appliances and at the same time build a user base for the next era of blockchain and AI, according to the company.
Canaan will mainly distribute to businesses that will in turn sell to customers, and there are plans to introduce a range of blockchain-related home appliances.

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“It looks more like hype,” said Xiao Lei, a Beijing-based bitcoin analyst. “It will be more meaningful if these companies are able to embed the mining function into existing major TV brands.”

Canaan took in 1.3 billion yuan (about US$205 million) in revenue in 2017, a 27-fold increase from the year earlier. Its profit in 2017 was 361 million yuan, up more than 230-fold from 2015, according to its filing to the Hong Kong stock exchange,

Last year, Canaan sold almost 300,000 Avalon mining machines, tripling the number from a year ago. The US and Sweden were among its biggest overseas markets, which accounted for 8.5 per cent of its sales for the year.

In 2017, Avalon miners accounted for 19.5 per cent of the world’s processing power for mining bitcoin, the filing said, citing data from consulting firm Frost & Sullivan.

Canaan included having a single product line as a major risk in its filing. “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,” it said.

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The company had previously sought to go public on the mainland exchanges, but put off the plan amid the government’s crackdown on cryptocurrency exchanges and mining facilities. The company also noted the uncertainty of China’s regulatory stance as a risk factor.

Canaan’s much bigger rival Bitmain was also reportedly seeking a listing in Hong Kong, with a US$12 billion value at a pre-initial public offering funding round. Beijing-based Bitmain previously declined to comment on the issue.