Canaan managed to overcome Bitmain?
Cannan, one of the TOP-3 asic miner manufacturers, showed its new Avalon A1346 and A1366 miners with 110 TH/s and 130 TH/s capacity.
There is an opinion that Canaan presented asics that will help to overcome the market leader S19Pro from Bitmain.
The competition process took several years. This spring, the Avalon A1266 miner demonstrated only 100 TH/s, and the energy efficiency was 35J/TH/s. Moreover, this asic came out during the cryptowinter period, further increasing the competition.
While the downturn in the crypto market continues, miners are experiencing great difficulties and a lack of investor support, Canaan has a great chance to increase sales volumes. The fact is that in the current situation, the purchase of hardware is approached very carefully. The Avalon models on offer will find a buyer.
In addition, Canaan managed to secure its production by moving some of it to the United States. Bitmain, which operates in China, remains under the threat of lockdowns, shipment delays, and pressure from the Chinese authorities.