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Canaan Launches New Miner with Low Cost Performance While its Stock Price Surges

Chinese crypto miner maker Canaan launches two new mining machines: Avalon 1146Pro and Avalon 1166. The power consumption of these two mining machines is 40% higher than that of the Whatsminer’s M30S + + which has the smallest power consumption on the market, but the former’s computing power is less than one-third of the latter.

According to the website of Canaan, Avalon 1146Pro (the maximum computing power can reach 65TH/s, with an energy-efficiency ratio of 52J/TH); Avalon 1166 (rated computing power of 68TH/s) has a maximum computing power of 70TH/s, with an energy-efficiency ratio of 47J/TH, both of which own built-in AI mining machines.


“The two upcoming mining machines, A1146Pro and A1166, support large computing power, low efficiency and being stable.”

Said Lu Xiaoming, senior vice president of Canaan, said recently. But in terms of efficiency ratio and computing power, the two mining machines that Canaan will launch are far less than the Whatminer M30 series and the S19 series launched by Bitmain.

S19 series launched by Bitmain, including Antminer S19 Pro with a rated computing power of 110TH/s and a power-consumption ratio of 30J/T, which is currently the one with the lowest power consumption in the market. Antminer S19 with a rated computing power of 95TH/s and a power-consumption ratio of 34J/T, which adopts the 7nm chip provided by TSMC.

Given the current BTC price of $9500, Avalon 1146Pro and Avalon 1166 may operate at a daily profit of $2.61 and $3.02, respectively (excludes the cost, handling charge and maintenance of mining machines), whose daily profit are less than half of Whatsminer M30S + + ($6.05) and Antminer S19 Pro ($6.03).

As of March 31, Fidelity has increased its stake in Canaan by 2338,558 shares, or 1.49%, and is likely to continue this action. In addition, the Renaissance Foundation has also bought 17,400 shares of Canaan. With two legendary foundation holdings increasing its shares, it may conducive to the recovery of share price of Canaan.

After Canaan stock ($CAN) bottomed out at $2/share on June 1, the price of $ CAN rebound. According to data from Yahoo, on June 2, the highest price of $CAN was $3.24, closing at $2.49, up 17.45%.


As a supercomputing solution provider and one of the largest manufacturers of bitcoin mining machines in China, Canaan was listed on the Nasdaq in 2019.

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