Source: financemagnates, 1/8/2025
You’ve certainly heard that Bitcoin (BTC) mining hardware requires a great deal of energy to operate, but they also emit a great deal of heat. Wall Street-based cryptocurrency mining company Canaan (NASDAQ: CAN) has decided to take advantage of this by offering a range of mining hardware with… Household heaters!
The same device that keeps your toes warm may now be in a hurry to fill your crypto wallet. Talk about a warm welcome to the future!
Wall Street mining company Canaan unveiled dual-purpose mining heaters at CES 2025.
marking a major shift in home cryptocurrency mining technology. The company introduced two new devices – the Avalon Mini 3 and Nano 3S – that combine the capabilities of bitcoin mining with practical home heating functions.
The Avalon Mini 3 offers a hash rate of 37.5Th/s while operating as a home heating system.
and features app-controlled operation and quiet performance. Its companion product, the Avalon Nano 3S, delivers a 6Th/s hash rate in an energy-efficient portable design.
“We commit to making Bitcoin mining accessible to everyone.” said N. Ji Chang, CEO and founder of Canaan. “The Avalon Mini 3 and Avalon 3S represent our vision of easy-to-use and practical mining solutions for the modern individual. We are reimagining how technology can create value while reducing environmental waste. The ability of the Avalon Mini 3 to generate cryptocurrencies while heating your home is a perfect example of our vision of sustainable multi-purpose technology.”
The devices are available for pre-order until February 2025.
priced at the Nano 3S at $249 and the Mini 3 at $899. The flagship Avalon Mini 3 offers a hash rate of 37.5 TH/s with 800 watts of power consumption. The unit measures 760 × 104 × 214 mm without packaging and operates in a temperature range from -5 to 40 ° C. Noise levels are maintained Operational at 55 dB, the device supports universal voltage input from 110 to 240 V.
The entry-level Nano 3S offers a hash rate of 6 TH/s, an upgrade from its predecessor. Features a compact form factor designed for easy portability and individual users.
Canaan raises $30 million
The move comes two months after the Chinese computing solutions provider entered into a securities purchase agreement to sell up to 30,000 preferred A-1 shares at a price of $1,000 per share to an institutional investor. The deal is expected to raise $30 million to support the expansion of digital mining sites and equipment in North America.
Wall Street mining company Canaan unveiled dual-purpose mining heaters at CES 2025.
marking a major shift in home cryptocurrency mining technology. The company introduced two new devices – the Avalon Mini 3 and Nano 3S – that combine bitcoin mining capabilities.
with practical home heating functions.
This development follows a Tier A funding round completed in September 2024.
in which Canaan sold up to 125,000 preferred Class A convertible shares. The company also made progress in product development, with strong demand for Avalon A15-194T mining hardware. In addition, Canaan signed a follow-up purchase agreement with HIVE Digital Technologies to supply 5,000 Avalon A15 mining rigs in the first quarter of 2025.
