As part of its mission to capitalize from the growing application-specific integrated circuit ("ASIC") market, China-based cryptocurrency mining rig developer Canaan (NASDAQ:CAN) has unveiled its Avalon 1266 model for an undisclosed price, CoinDesk reported Friday. The new mining rig will have 100 terahash per second hashrate capacity and 35 joules per terahash power efficiency, CoinDesk reported, citing a company executive at the Bitcoin 2022 Conference in Miami. This compares with Canaan's (CAN) Avalon 1246, which had capacity of 90 TH/s and 38 J/T power efficiency, CoinDesk noted. The model's value comes from its durability, Canaan Senior Vice President Edward Lu told CoinDesk. “If you buy our machines, you can use them for a lifetime … You don't have to change your machine or replace them every year,” adding that “a good miner has to withstand not only the long shipment journeys, but also the diverse operating environments in which it will be
