Integrating a Bitcoin miner into your daily electronic gadget to earn Bitcoins

Image source: pixabay - Pexels

Canaan Creative, the world's second largest marker of Bitcoin mining rigs, is all set to launch TV sets with Bitcoin mining capabilities. The miner, AvalonMiner Inside, is able to process 2.8 trillion hashes per second, almost 4 times slower processing power than a fully functional Bitcoin miner. It could add a few hundreds of dollars to the price of a TV, but would remain affordable to consumers.

Canaan is a mass producer for bitcoin mining chips that competes with Beijing-based Bitmain. 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. Source: South China Morning Post - Zheping Huang &
Yingzhi Yang.

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.

Canaan's AvalonMiner Inside, is set to equip more home appliances with Bitcoin mining capabilities. In the heat of the hype, they might just succeed to build a larger user base as well as create niche markets for new consumer products.

Image source: Wikimedia Commons

Canaan Creative is also one of the private companies that made it into the unicorn list - valued over $1 billion. Shanghai-based Hurun Research Institute published its Q2 Unicorn Index for the Greater China region, placing Canaan at the 32nd on the list and valued over $3 billion. Bitmain was placed at 13th and valued at over $10.3 billion. Source: coindesk - Wolfie Zhao.

Canaan took in about US$205 million in revenue in 2017, a 27-fold increase from the year earlier. Last year, Canaan sold almost 300,000 Avalon mining machines, tripling the number from a year ago. 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. Source: South China Morning Post - Zheping Huang &
Yingzhi Yang.

“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.”
Source: South China Morning Post - Zheping Huang &
Yingzhi Yang

Image source: pixabay - blickpixel

Recently, we have just seen how the Kodak Miner failed to launch, collapsing due to unachievable profits as advertising has misled its customers. However we are also unclear how much longer Bitcoin mining remains profitable or viable, as these miners consume high electricity costs. Overall mining may not be suitable for countries with high electricity costs.

Imagine the aesthetics to hide a heat and noise generating Bitcoin miner by soldering it into your home appliances. Definitely, it could convince thrifty homemakers to make a purchase, while satisfying their gadget-geek inner child. Heating in the house would not be an issue unless you are trying to get through the summer heat, that's when the house starts to boil.

-tysler