Stephanie Douse 
Canaan a bitcoin (BTC) mining rig manufacturer, has launched a new miner dubbed the Avalon 1266 model, the miner has a hashrate capability of 100 terahashes (TH/s) per second and a power efficiency of 35 joules per terahash (J/T).
According to a company executive speaking at the Bitcoin 2022 Conference in Miami, the Avalon 1266 will have a mining hashrate capability of 100 terahashes per second (TH/s) and a power efficiency of 35 joules per terahash (J/T). The new Avalon 1246 outperforms the previous model, which had a capacity of 90 TH/s and a 38 J/T efficiency.
Canaan’s latest model falls between between the S19 (95 TH/s, 34.5 J/T) and the S19 pro (110 TH/s, 29.5 J/T) among Bitmain’s non-liquid cooled miners. Bitmain’s newest Antminer S19 XP Hyd. with liquid cooling technology, on the other hand, has 255 TH/s of computing power and a 20.8 J/T efficiency.
Canaan Senior Vice President Edward Lu told CoinDesk that the new mining machine’s value proposition is its durability. “If you buy one of our machines, you can use it for the rest of your life… You don’t have to replace or change your machine every year.”
“A good miner must be able to survive not only long shipment journeys, but also a wide range of operational situations,” he noted.
Furthermore, Canaan is establishing mining service centers across the world, according to Lu, so that clients may obtain quicker help for their miners.
According to him, this new machine and later generations can be utilized for heat management with both air and immersion cooling. The Avalon 1266’s price has yet to be revealed.
The Bitcoin mining market is developing
Canaan forecasts the ASICs market to develop at a quicker rate than ever before, as buyers and producers become more knowledgeable and more major competitors enter the market.
“With some other foreign significant players entering into the industry, the market is becoming more and more professional,” Lu remarked. “I believe this market has a lot of room to expand and develop.”
Intel’s entry into the sector, according to Canaan’s Lu, is a positive catalyst that will help the industry become more competitive and grow quicker.
“Previously, this industry was shrouded in mystery. “Now that larger firms are entering the market, it proves that the industry has the ability to develop,” he said, adding that giant corporations like Intel don’t enter tiny industries unless they have significant growth potential.
Another benefit of companies like Intel entering the market, according to Lu, is that it will make the ASIC manufacturing market more competitive and encourage incumbents to invest more money.
“I believe Canaan and all of its colleagues in this business should be well prepared for such competition, both in terms of technologies and in terms of services, given Intel’s entry,” he said. “I believe Intel’s arrival will significantly benefit the industry.”