Canaan Creative

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Canaan Creative CO., LTD
Company typeWholly Owned Subsidiary
IndustryConsumer electronics
Computer hardware
Founded2013; 11 years ago (2013)
FounderN.G. Zhang
Headquarters
Haidian District, Beijing
,
China
Area served
Selected markets
List:
Key people
N.G. Zhang
ProductsComputer Processors
Computer Hardware
Number of employees
Approximately 100
WebsiteCanaan Global
Canaan Mainland China

Canaan Creative, known simply as Canaan, is a computer hardware manufacturer with specific integrated circuit design skills based in Beijing, China founded by N.G. Zhang in 2013.[1] Canaan invented the first Bitcoin mining processors and computers[2] and leads bitcoin hardware mining by using advanced ASIC semiconductor manufacturing processes. Canaan is known for its quality hardware paired with Open Source Software[3][4] in all of its products up to the latest product, the Avalon 6[5][6]

Acquisition

The company is recently in the process of being acquired for $466 Millions USD by Shandong Luyitong (LYT), publicly traded company on the Shenzhen stock market.[7][8] After the acquisition, Canaan Creative will be a wholly owned sudsidiary at that point.[9]

Public reports state that, "Luyitong paid roughly ¥1bn (approximately $152m) in cash, and issued 81 million shares at an average price per share of ¥24.57 ($3.74), representing an additional ¥1.99bn (roughly $303m)."[6][10][11][12] Reports say that Canaan's "strong sales projections fueled the valuation, and that it anticipates a net profit of $27m for 2016, with expectations of $39m and $53m in 2017 and 2018, respectively."[10]

The deal is an investment in Canaan's future as noted by founder, N.G. Zhang's statement, "This acquisition and investment provides us the necessary resources and autonomy to make even better products and innovations that our customers expect."[11][13]

Pre-Canaan History

In 2010, while still pursuing a Ph.D. degree in electrical engineering, Ngzhang discovered Bitcoin. In November 2011, Ngzhang announced on Bitcointalk the world's first dedicated bitcoin mining hardware named "Icarus" using FPGA technology.[14]

The followup product came in May 2012 with the second FPGA-based design, the Lancelot.[15]

In 2012, upon the release of Icarus, the Bitcoin community and industry gave much attention to the project. Then Ngzhang founded the Avalon Project as the brand to launch bitcoin mining hardware and Avalon ASIC semiconductors. And, because the software around the chips is open source, many engineers joined the project.[16]

Pre-Canaan Pre-Avalon FPGA Miners

Name Release Date H/s Watt Voltage Connection Pictures
Icarus[14] 2011-11 360M 19.2 12 USB
Lancelot[15] 2012-5 400M 26 12 USB File:Lancelot, FPGA bitcoin mining device designed by ngzhang.jpg

Avalon Product Line History

Avalon is a Canaan Creative brand and product line offering both bitcoin mining machines and semiconductor chips under the same name. The project was originally created by Zhang Ng, known also as "ngzhang".

By January 2013, the Avalon Project successfully developed the world's first dedicated bitcoin mining ASIC chip, the Avalon1 A3256. A month later, Avalon announced a product, the Avalon1 3module which used the Avalon1 A3256 chip. The Avalon1 had the equivalent SHA-256 algorithm calculating power as the most powerful graphics card at the time, AMD's HD5970[17] Test's performed showed that the chip was 110 times more powerful than the previous FPGA calculating power. This also meant that use of graphics card "GPU" bitcoin mining had also been surpassed with the Avalon1.

In August 2013, the Avalon Project launched its second generation of dedicated bitcoin mining ASIC chips, the Avalon2 A3255. Soon after, the "Avalon2 Single" hardware product using a single Avalon2 A3255 chip, was released. Unlike past machines, the Avalon2 does not operate in standalone mode. During the design of the Avalon2, a bottleneck in mining performance was realized with standalone-only design. Therefore, the Avalon2 also is operated with an external controller so multiple Avalon2 Single units can be operated in parallel to reduce peripheral costs. The mining power in Bitcoin shifted from single user's running individual mining machines to running Bitcoin mining farms.

In April 2014, the Avalon Project launched the third generation dedicated bitcoin mining chip the Avalon3 A3233 after 1 year and 3 months from its predecessor. In that time, the Bitcoin industry grew around the world. The Avalon Project also launched the Bitcoin hardware product, the Avalon3 using the Avalon3 A3233 ASIC chip and an open source Web-based management software called AMS (Avalon Management System).[2]

In August 2014, Avalon released the Avalon nano with a single A3233 chip on a small unit one can simply plug into a USB port for power and mining.

By September 2014, the Avalon Project entered advanced IC (Integrated circuit) design by releasing the Avalon3 A3222 chip using a 28 nm ASIC chip manufacturing process.

In October 2014, the Avalon4.0 mining hardware was released using 40 Avalon A3222 chips to bring 1T or 1 Terahashes per second SHA-256 Hashing power.

The latest hardware release came in October 2015 is the Avalon6 which uses 80 updated A3218 Avalon Avalon ASIC chips to achieve a 3.5T hashrate.

ASIC Processors

ASIC Release Date Process HS Voltage Watt/GHs Packing Pictures
A3256[18] 2013-1 110 nm 295MH@375 MHz 1.15V 6.6 QFN48 - 7X7, 0.5mm pitch
A3255[19][20] 2013-8 55 nm 1.5GH@750 MHz 0.8V-1.0V 1.6 - 2.45 QFN48 - 7X7, 0.5mm pitch
A3233[2][21] 2014-4 40 nm 7.08GH@600 MHz 0.55-0.85V 0.75 - 0.99 QFN48 - 7X7, 0.5mm pitch
A3222[22][23][24][25] 2014-9 28 nm 25GH@400 MHz 0.65V-0.8V 0.4 - 0.6 QFN56 - 8X8, 0.5mm pitch
A3218 2015-9 28 nm 47.5GH@500 MHz 0.6V-0.7V 0.28 - 0.29 FCLGA - 8X8

Avalon Miners

Name Release Date ASIC H/s Watt Voltage Connection Standalone Pictures
Avalon1 3module[26][27][28] 2013-1 A3256 72G 600 100 - 240 USB Yes
Avalon1 4module[29][30] 2013-6 A3256 90G - 110G 750 100 - 240 USB Yes
Avalon1 mini[31][32][33] 2013-7 A3256 60G 595 100 - 240 USB Yes
Avalon2 single[34][34] 2013-10 A3255 105G - 115G 340 - 385 100 - 240 USB No
Avalon3 single[35][36] 2014-5 A3233 295G - 325G 342 - 410 100 - 240 IIC No
Avalon3 3module 2014-6 A3233 710G - 970G 668 - 1235 100 - 240 IIC No
Avalon nano[37][38] 2014-8 A3233 1G - 3.6G 1 - 6 5 USB No
Avalon4.0 - 1T[39][40][41][42] 2014-10 A3222 800G - 1T 419 - 600 100 - 240 IIC No
Avalon4.1 - 1.3T[43][44] 2015-1 A3222 800G - 1.3T 419 - 990 100 - 240 IIC No
Avalon4 mini[45] 2015-7 A3222 30G - 78G 12 - 32.4 12 USB No
Avalon nano2[45] 2015-8 A3233 1G - 4G 1 - 6 5 USB No
Avalon6 V6.0 2015-10 A3218 3.5T±5% 1050 100-240 IIC No

See also

References

  1. ^ "About Canaan Creative". Canaan Official About Page. 2016-06-20. Retrieved 2016-06-20.
  2. ^ a b c "Avalon ASIC's 40nm Chip to Bring Hashing Boost for Less Power". Coindesk. 2014-03-14. Retrieved 2016-06-20.
  3. ^ "Canaan Creative Open Source Software". Canaan Creative Github Page. 2016-06-20. Retrieved 2016-06-20.
  4. ^ "Canaan Creative Support". Canaan Creative Support Page. 2016-06-20. Retrieved 2016-06-20.
  5. ^ "Canaan Creative Avalon Products". Canaan Official Avalon Page. 2016-06-20. Retrieved 2016-06-20.
  6. ^ a b Mizrahi, Avi (2016-06-09). "Chinese Bitcoin Mining Developer Canaan Acquired for ¥3 Billion". NEWSBTC. Retrieved 2016-06-20.
  7. ^ "Shanghai Luyitong Public Trading Symbol". Sina Finance. 2016-06-20. Retrieved 2016-06-20.
  8. ^ "Shandong Luyitong Intelligent Electric Plc". Bloomberg. 2016-06-20. Retrieved 2016-06-20.
  9. ^ Higgins, Stan (2016-06-08). "Maker of First Bitcoin Mining ASIC Acquired in What Could Be Industry's Largest Sale". Coindesk News. Retrieved 2016-06-20.
  10. ^ a b Higgins, Stan (2016-06-09). "New Details Emerge on Bitcoin Firm Avalon's $466 Million Pending Sale". Coindesk News. Retrieved 2016-06-20.
  11. ^ a b Das, Samburaj (2016-06-10). "Chinese Bitcoin Mining Firm Canaan Acquired for $422 Million". Coindesk News. Retrieved 2016-06-20.
  12. ^ Buntix, JP (2016-06-09). "Chinese Bitcoin Mining Company Canaan Sold for $466m". NEWSBTC. Retrieved 2016-06-20.
  13. ^ Zhang, N.G. (2016-06-09). "Hello World! We are Canaan". Canaan Creative Blog. Retrieved 2016-06-20.
  14. ^ a b "Icarus". Qi Hardware Wiki. 2012-01-02. Retrieved 2016-06-20.
  15. ^ a b "Icarus". Qi Hardware Wiki. 2012-04-09. Retrieved 2016-06-20.
  16. ^ Zhang, N.G. (2012-09-17). ""Avalon" ASIC, announcement & pre-order. pre-order over. project started". Bitcointalk forum. Retrieved 2016-06-20.
  17. ^ "AMD 5970". AMD Website. 2016-06-20. Retrieved 2016-06-20.
  18. ^ http://garzikrants.blogspot.de/2013/01/avalon-asic-miner-review.html
  19. ^ http://www.eevblog.com/forum/projects/diy-bitcoin-miner-for-avalon-a3255-q48-chips/
  20. ^ https://bitcointalk.org/index.php?topic=325646.0
  21. ^ https://bitcointalk.org/index.php?topic=514323.0
  22. ^ https://bitcointa.lk/threads/avalon4-a3222-28nm-25ghs-0-6w-g-sample-chips-available-here-ehash-com.368541/
  23. ^ https://bitcointalk.org/index.php?topic=779612.0
  24. ^ http://www.btcfans.com/article-6385-1.html
  25. ^ http://www.wanbizu.com/news/201409132356.html
  26. ^ https://bitcointalk.org/index.php?topic=178635.0
  27. ^ https://bitcointalk.org/index.php?topic=139704.0
  28. ^ https://bitcointalk.org/index.php?topic=243060.0
  29. ^ https://bitcoinfinger.wordpress.com/2013/03/25/avalon-batch-3-news/
  30. ^ http://www.reddit.com/r/Bitcoin/comments/1ayykn/avalon_asic_batch_3_sold_out/
  31. ^ https://bitcointalk.org/index.php?topic=271575.0
  32. ^ https://bitcointalk.org/index.php?topic=334602.0
  33. ^ mini setup https://www.youtube.com/watch?v=If-padHumv4
  34. ^ a b https://bitcointalk.org/index.php?topic=493358.0
  35. ^ https://bitcointalk.org/index.php?topic=751434
  36. ^ https://www.youtube.com/watch?v=pVwDkBKsdgE
  37. ^ https://bitcointalk.org/index.php?topic=1022764.0
  38. ^ http://8btc.com/article-1746-1.html
  39. ^ https://bitcointalk.org/index.php?topic=922558
  40. ^ http://www.cybtc.org/article-70-1.html
  41. ^ https://bitcointalk.org/index.php?topic=908135.0
  42. ^ http://www.cybtc.com/article-1508-1.html
  43. ^ https://bitcointalk.org/index.php?topic=1008726.0
  44. ^ https://www.youtube.com/watch?v=vUF0Jn9S07o
  45. ^ a b https://bitcointalk.org/index.php?topic=140539.4200

External links

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