Mentioned:
Bitcoin mining might be about to get a whole lot more accessible.
What’s happening:
- Canaan (NASDAQ: CAN) has officially launched their newest Bitcoin mining rig the Avalon Mini 3 which is purpose built to be used by individuals
Why it matters:
- The Avalon Mini 3 represents a new alternative for individuals to be able to directly participate in mining Bitcoin, which is something that has previously been limited to large companies being able to pursue due to the need for significant infrastructure, capital investment and enormous power consumption
By the numbers:
- The Avalon Mini 3 uses 800 watts of power, which is enough to heat a room inside a residential home while it is operating
- The Avalon Mini 3 can operate at 37.5 terahashes per second, which is a significant upgrade from Canaan’s previous Bitcoin mining rig that was built for individual use
Going deeper:
- Canaan has consistently been one of the leading hardware suppliers for some of the largest publicly traded Bitcoin miners in the world, including previously cutting a new large scale deal with CleanSpark (NASDAQ: CLSK)
