Canaan Creative, the world’s second biggest maker of bitcoin mining rigs, is betting there will be demand for what it bills as the world’s first bitcoin mining TV set.China’s largest bitcoin miner invests in Hong Kong blockchain start-up Called AvalonMiner Inside, the TV set has a processing power of 2.8 trillion hashes per second. Its most powerful mining machine can process 11 trillion hashes per second.

The product launch comes after Canaan submitted an application for an initial public offering in Hong Kong in May, which is expected to raise as much as US$1 billion. Founded in 2013, Canaan is known for mass-producing chips designed for bitcoin mining.

It competes with Beijing-based Bitmain Technologies in supplying hardware for bitcoin mining. Canaan says the Avalon TV is powered by artificial intelligence and has a voice control feature.

In addition, the device can calculate bitcoin mining profitability in real-time. The digital currency earned can be used to buy entertainment content or physical gifts through Canaan’s platform.

The creation of AvalonMiner Inside is to enable more home appliances and at the same time build a user base for the next era of blockchain and AI, according to the company. Canaan will mainly distribute to businesses that will in turn sell to customers, and there are plans to introduce a range of blockchain-related home appliances. Read more from scmp.com…

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