Canaan unveils a new generation of ASIC miners for bitcoin mining

According to the CEO of the company, Nangeng Zhang, the launch of the new line was a key milestone in the company's development

24.10.2022 - 15:20

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What’s new? Chinese cryptocurrency mining equipment manufacturer Canaan introduced a new A13 line based on innovative ASIC technologies. It includes two models with optimized computing power and improved power efficiency.

The press release

What is known about the devices? The line includes two models: the A1346 with a hashrate of 110 TH/s and power efficiency of 30 J/TH and the A1366 device with 130TH/s and 25 J/TH. According to company head Nangeng Zhang, the launch of the lineup was a key milestone in Canaan's research and development. He added:

“We are now working around the clock across the supply chain to prepare for future purchase orders and deliveries of the new products to our clients worldwide. We believe that our new generation products will enable us to better fulfill our mission of supporting the bitcoin ecosystem by providing superior products, solutions, and services.”

What is known about Canaan? The company was founded in 2013 by Nangeng Zhang, headquartered in China. It specializes in blockchain servers and ASIC microprocessor solutions for bitcoin mining. Canaan went public on the U.S. exchange Nasdaq in 2019 under the ticker symbol CAN. As of October 24, the stock is trading at $3,2, having gained 2,54% overnight, according to Investing.com.

In August, Canaan said it would increase gross profit in Q2 2022 despite a ban on mining in the PRC. Compared to the same period in 2021, revenue was up 117% to $139 million.

In July, the company announced the launch of its own mining farm in the US as part of its business diversification.

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