Canaan Bitcoin Mining Company Celebrates Avalon Bitcoin & Crypto Day

Canaan bitcoin mining company. (Photo; Doc. Bitcoin exchange guide)

JAKARTA - The leading bitcoin mining rig manufacturing company, Canaan, has announced a festive plan to celebrate a decade of their success. The event titled "Avalon Bitcoin & Crypto Day" will be held on September 12, 2023, in Singapore.

In an effort to make this event a gathering point for bitcoin mining industry figures, Canaan offers promise of exchange of insight, learning collaboration, and opportunities to expand the network.

Details about the innovations to be disclosed remain kept secret by Canaan, creating excitement and speculation about the possible launch of Avalon's new model. In their leaked information, Canaan confirmed that the participants would "witness the debut of a breakthrough product that changes the industry, shaping the future of bitcoin mining."

In addition, Canaan's online store has provided massive price cuts for Avalon's existing models, reducing prices by 77% to 89%.

For example, Avalon Miner A1326 with a capacity of 115 terahash per second (TH/s), which was previously priced at around 8,800 US dollars (Rp 134 million), can now be obtained at a price of 1,495 US dollars (Rp 22.8 million). This move shortly after its rival, Bitmain, also announced plans to launch a new product in the same month. Bitmain has given clues about its new product, Antminer S21, which highlights its efficiency below 20 joules per terahash (J/T).

In a race that has always moved fast in the mining industry, both Canaan and Bitmain are trying hard to outperform the new product from Microbt, which has just presented a Whatsminer series.

Whatsminer M53S++, with an impressive capacity of 320 terahash per second (TH/s) and an efficiency of 22 J/T, has caught the attention of the industry. In fact, Luxor reports its unique experience in running M53S++ to an incredible speed of 360 TH/s with an amazing overclocking.

On the other hand, Canaan shares experienced several fluctuations. Currently, Canaan shares have decreased by 13% in a week against the US dollar, and a 15% drop in the past month. However, since the announcement of the "Avalon Bitcoin & Crypto Day," the pre-market value showed a potential increase of 2% on August 17, 2023.

Despite the challenges faced, Canaan's performance performance over the past year has shown a 17% increase over the US dollar, giving hope for a bright future.