Canaan Avalon Miner 1146 56 TH/s is a remarkable Bitcoin miner that uses the SHA-256 algorithm. The miner comes with a maximum power consumption of 3192W. With a hash rate of 56 TH/s, this was one of the game-changers when it came to Bitcoin mining. There are other units from the manufacturer released later on with a bigger hash rate. For those who got their hands on this miner, it’s still profitable even today. Read this entire Canaan Avalon Miner 1146 56 TH/s review for more.

Description, Features, and Specs of Canaan Avalon Miner 1146 56 TH/s

The shipping date for this unit was market in February 2020. It did not take long for the miner to get sold out due to the profitability it brought to the table. The miner is ASIC supported, which is a plus for miners who have other chores. 

You can monitor the progress of this miner while away. The dimensions, too, are another attractive feature that led to the large-scale use of this unit. It is compact and weighs 11.4Kgs making it a perfect fit for large-scale mining.

When it comes to the total mineable coins, you can mine over 40 coins with this unit. HTR under the SHA-256 algorithm is the top coin. Market Place and Zpool follow closely with a daily income of over $14 a year after its release. 

Those who had their hands on the miner when it was released ripped the full benefits. We believe that Canaan Avalon Miner Company will try and bring back an improved version of this unit.

To increase your chances of winning, you can join reputable mining pools. These pools offer an incredible way of mining, such that you mine more using a bigger network. Some of the mining companies that support this unit include AntPool, ViaBTC, and more. A recent look at the company shows that the miner is sold out.  

Algorithm of the 1146 56 TH/s

It’s using the most secure networking algorithm for mining Crypto. SHA-256 is the best algorithm to use as it offers miners security from the 51 percent attack. You can mine with ease, knowing that the algorithm solves mining blocks faster. 

There’s no other algorithm that can boast of having no vulnerabilities. The SHA-256 is reputable as no known vulnerabilities are making it totally secure.

Efficiency of the 56 TH/s Canaan Avalon Miner 1146

With an efficiency of 57j/T, this miner did prove to be in the leading pack following its release. There’s another feature that blows our mind when it comes to the 1146 Avalon Miner. The power consumption helps the miner perform better. 

It boosts the performance of the miner with ease. You get a power consumption of 3192W, which was a lot in 2019. Bitcoin requires more power to mine for a faster mining experience.

Hash Rate of Canaan Avalon Miner 1146 56 TH/s

56 TH/s is the hash rate that comes with this miner. It was one of the first Bitcoin miners to surpass the 50 TH mark, which is commendable. The 1146 series set the benchmark for other miners to follow. 

A high hash rate is what miners want as it helps solve block rewards with ease. You also get to mint new coins faster thanks to the high hash rate. Such a hashing function also ensures that the network is completely secure.

The Profitability of Canaan Avalon Miner 1146 56 TH/s

Even today, the miner is still profitable and has a profit ratio of 99 percent. The annual return percentage is 210 percent, with returns per day being $9. Even the manufacturer is full of confidence and offers 173 days payback period.

Warranty of the 1146 56 TH/s

According to the manufacturer, the original buyer gets a warranty of 180 days.