Canaan Creative, a Bitcoin mining hardware manufacutrer, has recently revealed that it is having a flash sale which will sell its mining rigs with discounts because of the price leap of Bitcoin. The products that will be sold are the lines that range from the Avalon 921 line to the Avalon 851. All of them will be available for only $200 USD.
Steven Mosher, a representative of the company, has talked to the specialized media and affirmed that all miners except the Avalon 911 will be sold by these prices until they are completely sold out.
The communication department of the company affirms that this is a “commemoration” of the prices rising, but it is evident that there is more to the issue than that. Mosher said that normally prices would go up as the price of Bitcoin goes up, but that the intended to celebrate instead, so the prices were lowered today.
This is, in fact, more like a desperate move, as the prices are down now and these miners would have not been sold otherwise. Therefore, the most likely reason for the discounts is because the company needs to sell them.
“We’re At Bottom”
After the Bitcoin Cash issues with the “hash war” and the prices going down, Mosher believes that the industry has hit rock bottom and that this is time to celebrate above everything because it will only get better in the future. The company wants people to keep mining and want to help the smaller miners.
Canaan is a huge mining rig manufacturer and the company was set to go public at the Hong Kong Stock Exchange (HKEX), but its filing collapsed now. Tough times are coming for miners and some mining pools are losing many of their miners. F2Pool, for instance, has estimated recently that between 600,000 and 800,000 of its Bitcoin miners have abandoned their business since the middle of November.
With such a catastrophic scenario, the companies are having to struggle as well as the miners. The situation may get better when the prices definitely get out of the bear market, but that may take some time.