New 31 THS Canaan Avalon A10 Bitcoin ASIC Miner is Coming
29
Mar 2019
Canaan Creative has announced heir second generation 7nm AvalonMiner ASIC – the A10 that should be capable of delivering 31 THS SHA256 hashrate with 1736W of power usage (56 W/THS energy efficiency). The 30 THS efficiency with 1700 Watts of power usage was supposed to be delivered last year with the announcement of the first 7nm ASIC miner – , however the first generation 7nm hardware was not able to deliver what was promised. Not to mention it came at a bad time for the and crypto in general – a declining profit and the whole crypto market going down, so the demand for the new devices was really low. Instead of 30 THS, the was only capable of delivering 20 THS at 1700W of power usage, so the new 2nd gen A10 devices should finally be able to deliver that level of power efficiency. No word yet on pricing and exact availability dates, the official website still does not list the new devices and Canaan is talking about March availability and they just made the announcement at the end of the month, so we should wait a bit more for additional details…
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Chinese bitcoin miners are deliberately shutting down operations due to worries over future regulatory pressure.
Chinese Abandoning ‘Legal’ Mining
As the traders begin withdrawing BTC under , mining farms in the country’s Szechuan province are concerned a lack of rules for them might lead to repercussions.
“bitcoin regulation that the central bank conducted mainly focused on financing and leveraging trading among platforms,” Zhang Jun, a senior analyst at Tai Cloud Research Institute, YiCai Global.
Mining online involves routine digital programming. It’s not illegal.
Such comments have been insufficient to quell fears among miners themselves, it appears, with an “insider” telling the publication that shutting down shop means they miss out on a golden opportunity.
High Prices Mean Big Losses
Szechuan’s hydroelectric power is some of the cheapest in the world, while the high price of bitcoin and associated fees mean it is more profitable than ever to mine bitcoin on a major scale.
“The southwestern region has abundant hydropower resources,” the source said, “so electricity costs about half the price during the wet season. It’s hard to imagine why any mine would want to relocate now.”
“The price is so high at the moment,” a local mine manager added.
Shutting down costs mine owners hundreds of thousands of yuan every day.
Chinese trading activity has several hundred dollars to the average price of a bitcoin in the last 24 hours.
As traders flock to take advantage of newly enshrined exchange rules, it is clear that those left out of authorities’ latest deal are fearing the worst.
The Grass Is Not Greener
A local authority spokesman could only offer confirmation that “bitcoin mines are not introduced by the government” and that “mining is carried out by companies of their own accord.”
Yet the situation in China is a further shake-up of the mining landscape. Other locations where electricity is cheap but conditions harsh include South America, where several instances of criminal repercussions for miners have surfaced this year.
and most recently police have arrested parties known to have mined bitcoin on charges ranging from draining the national grid to propagating “pyramid schemes.”
No further information has yet been received from Chinese lawmakers with regard to the practice.
What do you think about the problems faced by Chinese miners? Let us know in the comments below!
