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Chinese Firm Introduces Bitcoin-Mining TV

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Chinese startup firm Canaan Creative is unveiling a new TV capable of mining Bitcoin while watching shows.

The Beijing, China-based company Canaan Creative announced a plan to unveil a new television set that allows you to mine cryptocurrency while watching TV. Canaan Creative is the second largest manufacturer of Bitcoin mining rigs in the world,

According to the South China Morning Post, the new TV set would be called AvalonMiner Inside and will be equipped with a processing capability of 2.8 trillion hashes per second. In comparison, the world’s most powerful mining machine has 11 trillion hashes per second capacity.

The report said the firm launched the product after completing its application for an initial public offering in Hong Kong in May. Canaan is targeting to raise at least $1.2 billion from the IPO.

It added the Avalon TV would be powered by artificial intelligence (AI) with voice control capabilities. The new device also features a real-time calculation of Bitcoin mining profitability. Users of the TV set could use their earned cryptocurrency to purchase entertainment content as well as physical gifts using Canaan’s platform, the report added.

With the launch of the AvalonMiner Inside TV, more home appliances are expected to be developed with digital currency capability and expand the new era of AI and blockchain technology, the report quoted the company as saying.

Canaan plans to distribute its mining TV through retailers, which will sell them to their customers. There is also a plan to introduce more home-appliances that are blockchain-enabled, the company reportedly said.

The company was founded in 2013 and focuses mainly on mass produced chips used for Bitcoin mining. Its biggest rival in providing hardware for Bitcoin mining rigs is fellow Beijing-based Bitmain Technologies.

This is not the first time blockchain and cryptocurrencies have generated interest in the world of TV entertainment.

In May, an episode of Silicon Valley featured the coolness of cryptocurrencies. The show went so far as describing the new asset class of providing “extreme personal freedom,” the main feature of digital currencies its believers have long reiterated.

An episode of Billions reminded its loyal viewers that digital currency trading is indeed about the transfer and a store of value. 

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