Canaan, a Bitcoin mining hardware producer, has released two ASIC models as part of its new Avalon A13 series.
The company claims that the A1366 will outperform its predecessors in processing power and power efficiency, with a hash rate of 130 TH/s and an efficiency of 25 J/TH. When exactly they will begin shipping is unknown.
In a filing with the U.S. Securities and Exchange Commission, Canaan’s chairman and CEO, Nangeng Zhang, said, “We are now working around the clock across the supply chain to prepare for future purchase orders and deliveries of the new products to our clients worldwide.”
Bitmain’s flagship S19 XP and MicroBT’s M50S are “very competitive” compared to the new series and the A1366 in particular, according to Ethan Vera, COO of bitcoin infrastructure provider Luxor Technologies.
The A1346 is a different variant with slightly less impressive characteristics, including a hash rate of 110 TH/s and an efficiency of 30 J/TH.
Since the A13 series is among the most efficient on the market, Vera claims that “a lot of interest” will be shown in it if its price is comparable to that of competing products. There is a dynamic where the most efficient miners have greater resistance to the falling hashprice since they are upgrading to newer, more powerful computers.
As they struggle with the significant decrease in the value of bitcoin, rising power costs, and mining difficulty, bitcoin miners have seen their profit margins squeezed over the past few months. The difficult metric rose 3.4% on Sunday, following a 13.55% increase two weeks earlier.
The basic values and long-term growth prospects of bitcoin and the supercomputing sector remain robust, Zhang stated, despite the industry’s current hurdles.
Vera said that Canaan has had “mixed reviews” from North American miners in the past and that the business “is considered more likely to encounter supply chain interruptions” because of its reliance on chips from SMIC, a company blacklisted by the United States. Canaan has not stated whether or not the two new models feature SMIC chips.
