Canaan introduces a new ASIC miner with residential heating capability

The Avalon Mini 3 is available for pre-order at $899

08.01.2025 - 11:10

3 min

What’s new? Canaan, a leading manufacturer of ASIC chips, has introduced two new bitcoin mining devices. The press release highlights that the Avalon Mini 3 and Avalon Nano 3S models are designed to democratize mining by individuals and turn home heating systems into cryptocurrency mining devices.

Press release

What else is known? Avalon Mini 3 with a hashrate of 37,5Th/s offers a unique dual-purpose solution combining efficient BTC mining with home heating. The device is controlled via an app. It is also noted that the miner does not create noise when operating.

Avalon Mini 3 can simultaneously mine bitcoins and heat homes, offering homeowners a unique way to offset energy costs and reduce environmental impact, the company notes.

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For its part, the Avalon Nano 3S is an improved version of the popular Avalon Nano 3. It offers a hashrate of 6Th/s, being affordable and convenient for aspiring miners.

Its compact and portable design combined with its low power consumption make it a good option for individual users, contributing to the decentralization of the bitcoin network.

“We are committed to making Bitcoin mining accessible to everyone. We’re reimagining how technology can create value while minimizing environmental waste. The Avalon Mini 3’s ability to generate cryptocurrency while heating your home is a perfect example of our vision for sustainable, multi-purpose technology,” said Nangeng NG Zhang, the CEO and founder of Canaan.

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During the pre-order period through the end of February 2025, the Avalon Mini 3 is priced at $899 and the Avalon Nano 3S is priced at $249.

Canaan shares are traded on Nasdaq under the ticker CAN, at the time of writing it has lost 9,4% overnight and is trading at $2,12. At the same time, it has gained 100% over the past six months.

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