The Block: Canaan launches new bitcoin mining hardware in A12 series

Bitcoin mining hardware manufacturer Canaan has announced the launch of a new machine in its A12 series, as it gears up to expand self-mining.

The Chinese-based company’s new Avalon 1266 can reach 100 terahash per second (TH/s) at an efficiency of 35 joules per terahash (J/T), senior vice president Edward Lu said during the Bitcoin 2022 conference in Miami.

It's unclear when the new miners will start shipping.

“We will arrange the production and delivery plan of the machine according to the demand orders of the main customers,” Lu told The Block.

Lu spent most of his 15-minute speech at the conference remarking on the need to improve sustainability by both increasing the efficiency of mining technologies and moving to renewable sources of energy.

“For the past two years, Avalon has been committed to building a greener bitcoin mining industry, starting with our products,” Lu said.

The executive also said that Canaan is committed to partnering with miners who are focused on meeting green energy goals.

The company, which currently maintains mining power in Kazakhstan, is planning to expand its self-mining capacity in the US. Lu said he plans to tour different states in the US in search of optimal opportunities following the conference.

“I think we need to learn, we need to understand all those markets,” Lu told The Block. "T he US is a very advanced country for using clean energy for mining, so I'd love to join and to learn."

MicroBT also announced new mining technology during Bitcoin 2022. Its new Whatsminer M50 series includes the M50S, which can produce up to 126 TH/s.