Canaan, a major producer of Bitcoin mining rigs, is preparing for a grand reveal at its upcoming 10th-anniversary celebration in Singapore on September 12, 2023, called “Avalon Bitcoin & Crypto Day.” This event comes right after Bitmain’s announcement to launch a new mining rig at the 2023 World Digital Mining Summit in Hong Kong. Canaan’s showcase is anticipated to be an essential gathering for industry leaders, focusing on information sharing, collaboration, and networking.

The company has remained secretive about the exact nature of the “groundbreaking” product they plan to launch, though hints suggest it may be a new Avalon model. The launch promises to redefine the industry and help shape the future of Bitcoin mining. Concurrently, Canaan has begun offering substantial discounts on older Avalon models, reducing prices by 77% to 89%.

An example of these discounts includes the Avalon Miner A1326, with a power of 115 terahash per second (TH/s), formerly priced at $8,800, now available for just $1,495. This move by Canaan follows a similar announcement from competitor Bitmain, which has already unveiled the name of its new rig, the Antminer S21, characterized as an innovative product with efficiency below 20 joules per terahash (J/T).

Both Canaan and Bitmain appear to be striving to surpass Microbt’s latest offering in the Whatsminer series, the M53S++, which delivers an impressive 320 TH/s and an efficiency of 22 J/T. Luxor’s preview of the M53S++ even showed it could be overclocked to a remarkable 360 TH/s.

In the stock market, Canaan has faced challenges, with a 13% drop against the U.S. dollar over the past week and a 15% slump in the last month. Nevertheless, following the announcement, pre-market indicators suggest a potential 2% increase in Canaan’s shares on August 17, 2023. Overall, the company’s year-to-date performance reveals a positive 17% growth against the U.S. dollar.

The upcoming launch by Canaan has certainly sparked curiosity and debate. Many are left speculating whether the release will indeed be a new Avalon miner, and how it might impact the broader Bitcoin mining industry. People are encouraged to share their insights and predictions in the comments section, adding to the buzz surrounding this significant industry event.

Frequently Asked Questions (FAQs) about fokus keyword Canaan

What is Canaan planning to reveal at their 10th-anniversary event in Singapore?

Canaan is hinting at introducing a “groundbreaking” product in the Bitcoin mining sphere. The specifics of the innovation remain undisclosed, but it’s poised to elevate the BTC mining industry.

When and where will Canaan’s event take place?

Canaan’s event, named “Avalon Bitcoin & Crypto Day,” will be held in Singapore on September 12, 2023.

Are there any discounts on older Avalon models?

Yes, Canaan is offering massive discounts on older Avalon models, slashing prices by 77% to 89%. For example, the Avalon Miner A1326 can now be purchased for just $1,495.

How does Canaan’s upcoming announcement relate to Bitmain?

Canaan’s announcement comes shortly after Bitmain announced its intention to launch a new mining rig. Both companies seem to be competing in innovation, with new products being revealed in September 2023.

What’s the latest addition to the Whatsminer series, and how does it compare to Canaan’s products?

The latest addition to the Whatsminer series is the M53S++, boasting 320 terahash per second (TH/s) and an efficiency of 22 J/T. It’s an impressive offering in the industry, and Canaan’s upcoming product is anticipated to be a groundbreaking addition that may redefine the industry.

How have Canaan’s shares performed recently?

Canaan’s shares have seen a 13% dip against the U.S. dollar in the past week and a 15% decline over the last month. However, pre-market values show a potential 2% rise on August 17, 2023, and the year-to-date performance showcases a 17% uptick against the greenback.

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cryptoFan21 August 18, 2023 - 7:03 pm

what’s the big deal here, companies always tease new products. Let’s wait and see if it lives up to the hype.

JennySmith August 18, 2023 - 8:52 pm

can’t wait for the Canaan event, this new product sounds like a game-changer! Anyone else think they can beat Whatsminer??

InvestorGuru101 August 18, 2023 - 10:01 pm

Canaan’s shares are on a rollercoaster, but I’ve got faith. this announcement might just turn things around for them.

TechEnthusiast August 18, 2023 - 11:01 pm

It’s a battle of the Titans between Canaan and Bitmain. Wonder how Microbt’s Whatsminer is gonna stack up in the mix. Exciting times ahead!

Mike_T August 19, 2023 - 2:16 pm

Finally some competition for Bitmain. Hope Canaan delivers. discounted Avalon models too, tempting


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