Canaan Launched Two New Bitcoin Mining Machines

According to Canaan, the A1366 will feature a hash rate of 130 TH/s and an efficiency of 25 J/TH, outperforming its predecessors in computational power and power efficiency. It is unknown when they will begin shipping.

Canaan’s chairman and CEO, Nangeng Zhang, stated in a filing with the US Securities and Exchange Commission:

“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.”

On an efficiency basis, the new series, and particularly the A1366, are very competitive when compared to Bitmain’s flagship S19 XP and MicroBT’s M50S, according to Ethan Vera, COO of Bitcoin infrastructure provider Luxor Technologies.

The A1346, the second model, has somewhat lower specifications, with a hash rate of 110 TH/s and an efficiency of 30 J/TH.

Vera said:

“We expect the A13 series to get a lot of interest due to the top-tier efficiency, if the price is in line with competitors. Miners are flocking to the latest-generation machines as hashprice has been plummeting, creating a dynamic where the most-efficient miners have higher resistance to hashprice.”

Bitcoin miners’ profit margins have been stretched in recent months as the value of Bitcoin has plummeted, as power prices and mining difficulty have risen. The challenging metric increased by 3.4% last Sunday.

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