Canaan launches powerful Bitcoin miner focused on profitability

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In a context in which the profitability of Bitcoin mining gained greater visibility due to the recent halving, the ASIC miner manufacturing company, Canaan, launched a powerful piece of equipment on the market that focuses on making the activity profitable. This is the Avalon 1566 ASIC miner, belonging to the A15 series, announced this Thursday, May 9 in Hong Kong, reports an official press release. mining equipment has a hash power of 185 TH/s, which positions it among the most powerful Bitcoin mining hardware on the market. At the level of Bitmain's Antminer S21, for example, whose power is 200 TH/s. According to the device's technical specifications, Canaan's A1566 has a “leading energy efficiency ratio.” This is 18.5 J/TH. In addition, it has a power consumption of 3,420W, and operates with a voltage of between 200 to 300 V. With its new new equipment, Canaan speaks of a “resilient and high-quality mining solution”, taking into consideration the post-war era. Bitcoin's fourth halving, an event carried out in the protocol on April 19.

The impact of halving on miners

Due to the halving, which occurs every four years on average, Bitcoin miners They tend to be impacted in different ways. For example, with the increasing difficulty of mining due to increased competition. This is a situation that forces miners to make adjustments to their operations. It is generally done by purchasing more powerful hardware, which increases costs. Something also complicated by the fact that the halving divides the reward for mining in half, which reduces the miners' income. As mining operators told BitcoinDynamic days before the fourth halving, this mechanism, although important, is a “hard blow” for the mining industry, precisely because requires a greater investment in equipment on account of continuing to operate profitably. This halving blow usually translates directly into disconnection of Bitcoin miners who, faced with the cons, They have no way to operate profitably.

Now, since the Bitcoin halving, the network hashrate has been gradually decreasing. In a matter of three weeks, almost 100 EH/s in computing power have been lost, something that could indicate a disconnection of miners, although it could also be due to a multiplicity of factors, such as regulatory issues or simply operational pauses. According to data provided by the mining firm Braiins, the Bitcoin hashrate fell to 559 EH/s on May 8, 2024. 15% compared to the level reached days before the halving, when computing power reached at 670 EH/s, a historical maximum for the indicator.