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Cryptonomist reported that an important event was held in Chengdu, Sichuan Province, China, in the mining pool Poolin, which is dedicated to mining cryptocurrencies. Different people in the industry participated in the event, including several manufacturers. During the event, Canaan announced a series of new ASICs for mining the eleventh A11 series bitcoin belonging to the Avalon Miner family.

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Canaan is a well-known ASIC manufacturer and one of the first companies to enter the Bitcoin mining hardware development industry, as the first products were created in 2012 before Bitmain.

Over the years, the company has proposed several devices that belong to the Avalon Miner series and will soon be available for the 11th generation.

New Canaan Avalon miners A1146 and A1166 for bitcoin mining

As can be seen from the photos taken a few days before the event, Canaan presented the participants with some preliminary data on the company's future product specifications.

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Image from Cryptonomist

First, the Canaan Avalon Miner A1146 and A1166 will use chips based on advanced manufacturing processes, although it has not been specified whether to use TSMC 7nm foundries or Samsung 8 or 10nm chips.

However, this is an important step forward, as the lithography used in Canaan's current top products (Avalon A1066 and A1046) is very old at 16 nm.

As a result, the efficiency of the new product will be significantly improved as it will be efficient from the current A1066's 65 watts (TH) to the heirs A1166's 47 watts (TH).

Two models have been presented to the public. The first is the Canaan Avalon Miner A1146, an entry-level 58 TH/s solution with an energy efficiency of approximately 56 watts per TH. Therefore, the total power absorbed by this model should be around 3,300 watts per hour.

The new top-of-the-line product, the Avalon Miner A1166, will reach 70 TH/s at the same consumption, achieving an efficiency of 47 watts per TH, almost close to the efficiency provided by the manufacturer's current solution, which has been used until now. The most efficient ASIC for coin mining.

The price is unknown, but depending on some sources in the event, the price should be between $30 and $35 per TH, depending on the solution. Therefore, the price of the Canaan Avalon Miner A1146 may be between $1,750 and $2,050, while the price of his brother A1166 may be between $2,100 and $2,500.

These are competitive numbers even if you must consider usability factors. These products have not yet been officially released and are available on the company's website, may be pre-ordered in October/November, and the first batch will be delivered in January/February 2020.

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