A company that is changing the way the world mines bitcoin

crypto.news 2025-01-08 09:02:04

Bitcoin miner Canaan rolls out mining rigs as home heaters at CES 2025

Bitcoin miner manufacturer Canaan has introduced the Avalon Mini 3 and Nano 3S, rigs that mine crypto while also doubling as home heaters. Canaan, a tech company known for its ASIC chip design and development, is taking another shot at something other mining companies have experimented with: making Bitcoin ( BTC ) mining rigs that double as heaters. At CES in Las Vegas, Canaan announced two new Bitcoin mining devices: the Avalon Mini 3 and Avalon Nano 3S. The rigs are designed to make crypto mining more accessible and to help turn home heating into a byproduct of mining, the company said in a press release on Jan. 8. The Avalon Mini 3 has a hashrate of 37.5Th/s and is built to mine Bitcoin while also providing heat for a home. Canaan claims the device “quiet design” as well as “energy-efficient solution for mining newcomers and enthusiasts.” You might also like: UAE’s Bitcoin mining firm Phoenix Group expands in US ahead of Nasdaq listing: report The Avalon Nano 3S, which has a hashrate of 6Th/s, is an upgraded, more affordable version aimed at beginners. It’s small and portable, making it suitable for those who want to start mining without a big setup, the company says. Canaan founder NG Zhang says the main goal with the latest devices is to make Bitcoin mining “accessible to everyone,” adding that the company is trying to reimagine “how technology can create value while minimizing environmental waste.” Canaan is offering a preorder deal until the end of February. The Avalon Nano 3S is priced at $249, and the Avalon Mini 3 is priced at $899 while supplies last. This isn’t the first time mining hardware companies have tried turning crypto rigs into household devices. Companies like Heatbit and D-Central have introduced heaters that also mine cryptocurrency. While the concept is intriguing, it appears that these devices haven’t gained much traction due to high costs, noise, and crypto market volatility, keeping them in a niche market for now. Read more: Riot stock gains 3% after mining update: holds 17,722 BTC