Canaan launches quiet home Bitcoin miner Avalon Q

Published 27/03/2025, 15:10
Canaan launches quiet home Bitcoin miner Avalon Q

SINGAPORE - Canaan Inc. (NASDAQ: CAN), a leading technology company specializing in ASIC high-performance computing chip design with a market capitalization of $361 million, has announced the release of the Avalon Q, a professional-grade Bitcoin mining machine tailored for home use. According to InvestingPro data, the company faces challenging market conditions with its stock trading at $0.96, down over 54% year-to-date. The new device boasts a maximum hash rate of 90 terahashes per second (TH/s) with adjustable power consumption between 800W and 1600W, offering high performance while being compatible with standard home electrical systems.

The Avalon Q is notable for being the first professional-grade Bitcoin miner to support 110V home power globally. Its launch addresses a growing interest in residential cryptocurrency mining, providing individuals the opportunity to participate actively in the Bitcoin network from the comfort of their homes. This product launch comes at a crucial time for Canaan, as InvestingPro analysis reveals the company has been experiencing weak gross profit margins of -57.5% and declining revenues, with a 14% decrease in the last twelve months.

One of the key innovations of the Avalon Q is its ultra-quiet operation. The machine operates at a minimum noise level of 45 decibels, comparable to the ambient sound of a quiet library, which is a significant reduction from the noise levels typically associated with industrial mining rigs. This feature allows users to mine Bitcoin without the disturbance of loud machinery, making it practical to run a mining operation from a home office or living space.

The Avalon Q also comes with a comprehensive 360-day warranty and is built with Canaan’s proven reliability engineering, ensuring durability for continuous operation. It is user-friendly, with the Avalon Family APP facilitating simple setup and management, catering to both novice and seasoned miners.

Canaan’s Founder and CEO, Mr. NG Zhang, commented on the release, stating that the Avalon Q democratizes Bitcoin mining by bringing professional capabilities to people’s homes. He highlighted the significant demand from individuals who wish to be more than just Bitcoin investors, aiming to be active contributors to the network’s security.

The Avalon Q is currently available for preorder on Canaan’s website and select cryptocurrency mining equipment retailers worldwide. During the preorder period, which extends until the end of April, the Avalon Q is priced at USD 1599, while supplies last.

Canaan, established in 2013, has a history of innovation in the ASIC field and the Bitcoin mining ecosystem. The company continues to focus on making Bitcoin mining more accessible and efficient through their product offerings. This announcement is based on a press release statement from Canaan Inc.

In other recent news, Canaan Inc. reported its fourth-quarter 2024 earnings, revealing a notable miss on earnings per share (EPS) while surpassing revenue expectations. The company posted an EPS of -$0.33, significantly below the forecasted -$0.08, yet revenue reached $88.8 million, exceeding the anticipated $80.02 million. Despite the revenue beat, Canaan’s stock experienced a decline in pre-market trading, reflecting investor concerns over profitability. The earnings report highlighted an 81% year-over-year revenue growth, driven by the launch of new products and expansion in North America. Additionally, Canaan achieved its first EBITDA profitability since Q1 2023, with a positive EBITDA of $19.3 million. The company also provided a revenue guidance for 2025, projecting between $900 million and $1.1 billion. On the analyst front, there was no mention of upgrades or downgrades by firms like B. Riley Securities and Rosenblatt Securities, although they participated in the earnings call. Canaan continues to expand its mining capacity, aiming for significant growth in North America and globally by mid-2025.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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