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Canaan Creative Introduces the First Television that Can Mine Bitcoin

Bitcoin

According to Blokforge, Canaan Creative, one of the leading manufacturers of Bitcoin mining hardware is looking to create a 4k television that also doubles up as a cryptocurrency miner. Canaan Creative also plans to provide a variety of blockchain-related home appliances to help propel boost the blockchain and artificial intelligence development in the future.

Canaan Creative’s TV Cryptocurrency Miner

Canaan Creative’s new television and cryptocurrency miner is known as the AvalonMiner Inside. The South China Morning Post reported that the TV set had a processing power of up to 2.8 trillion hashes per second, a little less than one-quarter of its most powerful mining machine which processes 11 trillion hashes per second.

Canaan noted that the Avalon TV has artificial intelligence embedded within its system and a voice control feature. The device can also calculate how profitable it is to mine Bitcoin in real-time. Any tokens earned via the Bitcoin mining feature can also be used to purchase entertainment content or gifts via Canaan’s platform.

Canaan Creative mentioned that the AvalonMiner Inside is an important product because it can help propel the blockchain and AI movement by introducing the Bitcoin mining and AI concept into familiar and mainstream technologies.  While these actions could later have an impact on the blockchain industry, Xia Lei, a Beijing-base Bitcoin analyst, said that “it looks more like hype. It will be more meaningful if these companies are able to embed the mining function into existing major TV brands.”

Canaan Creative experiences 27-fold increase in revenue from 2017

While Canaan Creative faces many rivals like Bitmain, the company has still achieved 1.3 billion yuan (approximately $205 million) in revenue. Although Bitcoin’s value has fallen over the course of 2018, Canaan Creative managed to gain a 27-fold increase from 2017 to 2018. The company also experienced a profit increase of over 230-fold since 2015, according to information listed on the Hong Kong Stock Exchange.

A large majority of the world’s processing power for Bitcoin mining in 2017, currently comes from Canaan Creative’s Avalon Miners. While the company begins to diversify their product range, Canaan Creative said, “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.”

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