Editor: Lauren Lin
Translation: Nate Mi
Canaan Inc. (NASDAQ: CAN) expanded its home mining product line in the second quarter of 2024 with the launch of the Avalon Nano 3. This portable Bitcoin miner is designed to meet the growing demand for small home mining devices. It not only mines efficiently but can also serve as a small heater. This means that this miner is the perfect combination of technology and practicality. In this review, we will delve into its main features, setup process, and mining returns.
History of Avalon Nano
History of Avalon NanoCanaan has a rich history in mining machine research and development. Ten years ago, Canaan launched the first Avalon Nano. This small single-chip Bitcoin miner was aimed at developers and students who were curious about Bitcoin mining but had limited resources. At that time, each Avalon Nano was equipped with a single A3233 chip and a USB 2.0 interface for power and connection, achieving a hash rate of 3.6GH/s, which was 3-4 times higher than many graphics cards used for mining at that time. Meanwhile, its unique USB stick shape enabled efficient heat management.
First Avalon Nano
A3233 Chip
As the Nano was mass-produced, users began seeking to maximize its operating hash rate. By combining multiple Nanos with a USB hub, miners could significantly increase their overall hash rate. This also prompted Canaan to develop the Avalon Nano 2: an upgraded version with a more robust casing and up to 5W of higher power output.
Combining multiple Nanos with a USB hub
First Generation Nano (Black) and Second Generation Nano (Silver)
Avalon Nano 3: A New Era for Home Mining
Avalon Nano 3: A New Era for Home MiningTen years after the launch of Avalon Nano 2, Canaan introduced the third generation home miner: Avalon Nano 3. The Nano 3 represents a significant leap forward, offering major improvements in both hash rate and user experience. Besides its core mining performance, it can also function as an energy-efficient small heater, making it suitable for home use.
Avalon Nano 3 Top View
Avalon Nano 3 Top View
Avalon Nano 3 Front View
Avalon Nano 3 Rear View
The Nano 3 is currently available in 23 countries, with a hash rate of 4TH/s. It is powered by 10 integrated chips and has a maximum power consumption of 140W. The Nano 3 is compatible with 65W, 100W, and 140W power supplies, allowing users to customize power consumption based on their specific needs.
The Avalon Nano 3 used for testing was equipped with a 140W USB-C power adapter suitable for the American household power environment. As a dual-purpose device, the Nano 3 provides an economical home mining solution, and its operating costs can be partially offset by Bitcoin mining returns.
Avalon Nano 3 Power Adapter
Avalon Nano 3 Power Adapter Specifications
| Gross Weight | 725g (without power adapter) |
| Dimensions | 205*115*57mm |
| Input Voltage | 28V |
| Power Consumption | 65W, 100W, 140W |
| Network Connection | Wi-Fi |
| Hash Rate | 4T |
| Algorithm | SHA-256 |
| Frequency | 50/60HZ |
| Exhaust Temperature | 40-60℃ |
| Noise | 33-36dB |
| Color |
|
Starting Your Mining Journey with Avalon Nano 3 via Luxor Pool
Starting Your Mining Journey with Avalon Nano 3 via Luxor PoolCanaan designed the Avalon Nano 3 with user experience in mind, making home mining a breeze. Simply connect the power cable, establish a Wi-Fi connection, and select a mining pool (registration QR code is provided on the device).1 Next, choose a power mode: high power mode for maximum hash rate, low power mode for quieter operation.
Here’s a detailed breakdown of the setup process:
1. Plug in the cable and turn on the Avalon Nano 3 power.
2. Press and hold the power button for 3 seconds.
3. Connect your computer to the Nano 3’s default Wi-Fi hotspot (for example, “heater_nano_A4F4”).
4. Enter the default IP address (192.168.168.168) in your web browser.
5. Log in using the default username and password (both are “root”).
6. Configure your Wi-Fi by entering your network SSID and password. Once connected successfully, your browser and Nano 3 will display the new IP address.
7. Reconnect your laptop to the newly configured Wi-Fi network.
8. Enter the new IP address in your browser, then log in again to the Nano 3 management panel using “root” credentials.
Mining Configuration:
1. Register an account with the Luxor mining pool and create a sub-account name. A QR code for Luxor pool registration is also provided on the back of your Avalon Nano 3.
2. In the Nano 3 interface, navigate to the mining pool settings.
3. Enter the following details:
-
URL: stratum+tcp://btc.global.luxor.tech:700 -
Worker: LuxorSubaccount.WorkerName (avoid special characters) -
Password: 123 (avoid special characters)
4. Once completed, click “Save” to restart the miner and begin the mining process.
5. Wait 5-10 minutes, and your hash rate will appear in your Luxor pool account.
By default, the Nano 3 operates in high power mode, producing noise levels of about 50 decibels (depending on ambient temperature). If quieter operation is desired, simply select low power mode in the configuration page.
Performance Evaluation
To assess the performance of the Avalon Nano 3 under different conditions, the Luxor team conducted multiple tests in low, medium, and high power modes. Notably, the Nano 3’s exhaust can produce warm air at around 50℃, making it a viable option for supplemental heating in small spaces.
Performance test results are as follows:
Avalon Nano 3 Performance Testing
Low Power Mode (LPM)
Medium Power Mode (MPM)
High Power Mode (HPM)
Review Summary
Review SummaryThe Avalon Nano 3 and its broader Nano product line represent advancements in home mining. It offers an easy-to-use and cost-effective way to start your Bitcoin mining journey, significantly lowering the entry barrier for beginners. According to our review results, the Nano 3 provides reliable and stable hash rate output across various power modes. Moreover, its dual function as a heater further enhances its value.
Here’s a quick summary of the Avalon Nano 3:
| $/unit Manufacturer Price |
$99/unit, without adapter $129/unit, with adapter |
| $/T Manufacturer Price |
$24.75/T, without adapter $32.25/T, with adapter |
| Energy Efficiency Ratio | 35J/T (4T@140W) |
| Monthly Energy Cost | $14.122 (assuming electricity cost $0.14/kWh, power consumption 140W) |
| Temperature | 50-55℃ |
Choosing the Nano 3 may not be the most efficient or profitable mining solution, but its dual-purpose design and user-friendly interface make it an excellent choice for mining newcomers.
For those eager to embark on their home mining journey, the Avalon Nano 3 is an outstanding choice. To celebrate the 2024 Uptober event, we are collaborating with Canaan to give away an Avalon Nano 3! We encourage everyone to participate in this event. Event link: https://docs.google.com/forms/d/e/1FAIpQLSdrNTVAtiwRGRSlAc89o01puXMIXNDzzaQS69EEsXfHj-R74A/viewform