On August 3, BTCManager reported that Canaan Creative, a competing manufacturer of crypto mining equipment with an estimated 19 percent of the global coin mining rig market, launched the “AvalonMiner Inside,” a dual purpose device combining the functionality of a smart television and a crypto mining rig.
The report noted that due to Bitmain’s massive size advantage over Canaan Creative, with its estimated 70 percent market share, Canaan’s competition strategy was not to engage in a price war but to expand into an area not dominated by Bitmain, namely Internet of Things (IoT)-powered blockchain networks. Despite possessing just about a quarter of the mining capacity of one of Bitmain’s typical Antminer rigs, the AvalonMiner Inside aimed to spark the creation of a much larger blockchain powered by networked everyday devices like smart televisions and fridges.
(Source: Twitter | Antminer)
With the launch of the “Antrouter” R3-DASH and R3-SIA, Bitmain has either effectively acknowledged that the future lies in the blockchain’s expansion through IoT-enabled smart devices, or it has at least seen enough of a potential threat from Canaan’s crypto mining TV to make its own entry into the market.
The tweet, posted Monday on the official Antminer twitter account, reads:
“We are pleased to announce the #antrouter R3-DASH & R3-SIA, new miners from the R3 series that is also dual-function WiFi Router and Crypto Miner that can mine #dashcoin & #siacoin. Order here Dash: (https://bit.ly/2MltBRq ) & Sia: (https://bit.ly/2vo7bbR ) now while stock lasts!”
Prior to the announcement, Bitmain has been busily making several strategic moves, including filing for an Initial Public Offering (IPO) in Hong Kong. BTCManager reported in August 2018 that the Chinese company has announced construction plans for a new data center and crypto mining facility in the Texas city of Rockdale, as part of a $500 million investment in the area over a ten year period.
The facility, projected to bring in over 400 jobs to an area devastated by job losses and capital flight, is expected to play a key strategic role in the company’s North American expansion alongside a sprawling new 20,000 square feet office in San Jose, California. The company is also scaling up and expanding its operations in Ra’anana, Israel.
Whether the future of mining actually lies in decentralized, mass-market devices instead of today’s centralized mining farms remains to be seen.