COINOTAG recommends • Exchange signup |
💹 Trade with pro tools |
Fast execution, robust charts, clean risk controls. |
👉 Open account → |
COINOTAG recommends • Exchange signup |
🚀 Smooth orders, clear control |
Advanced order types and market depth in one view. |
👉 Create account → |
COINOTAG recommends • Exchange signup |
📈 Clarity in volatile markets |
Plan entries & exits, manage positions with discipline. |
👉 Sign up → |
COINOTAG recommends • Exchange signup |
⚡ Speed, depth, reliability |
Execute confidently when timing matters. |
👉 Open account → |
COINOTAG recommends • Exchange signup |
🧭 A focused workflow for traders |
Alerts, watchlists, and a repeatable process. |
👉 Get started → |
COINOTAG recommends • Exchange signup |
✅ Data‑driven decisions |
Focus on process—not noise. |
👉 Sign up → |
- Canaan, a leading Bitcoin mining hardware manufacturer, has launched a new energy-efficient miner, the A1566, at the Bitcoin Asia 2024 conference.
- This launch comes in response to the reduced rewards from Bitcoin’s latest halving event, which has seen mining companies experience a decrease in Bitcoin production.
- Simultaneously, Hong Kong has introduced spot Bitcoin ETFs, marking a significant development in the Asian market.
Canaan launches its new energy-efficient miner, the A1566, at Bitcoin Asia 2024, in response to the challenges posed by Bitcoin’s latest halving event. Meanwhile, Hong Kong introduces spot Bitcoin ETFs, a significant development in the Asian market.
Reduced Mining Efficiency Post Halving
Following Bitcoin’s recent halving event, public mining companies including Bitfarms, Cipher, CleanSpark, Core Scientific, Riot, and Terawulf have reported a decrease in Bitcoin production of 6% to 12% in April. Hut 8, a North American Bitcoin mining company, reported a significant 36% decrease in proprietary Bitcoin production, mining only 148 BTC in April compared to March. Canaan’s new A1566 model is engineered to help miners cope with these reduced rewards.
Canaan’s Response to the Halving Challenge
“The bitcoin halving is a challenge, but also an opportunity,” said Canaan vice president David Hui. “That’s why we chose this timing to launch our new bitcoin-mining machines to help our miners get through this time’s halving.” Last year, Canaan reported a 67.5% drop in total revenue to $211.5 million and a 71.5% decrease in mining equipment sales to $175.9 million, attributing these declines to reduced equipment prices and softer market demand.
Hong Kong Introduces Spot Bitcoin ETFs
“While we acknowledge the persisting challenges of the ongoing bearish market for mining machines, we draw inspiration from the recent approval and listing of spot Bitcoin ETFs,” said Canaan chairman and CEO Nangeng Zhang. On April 30, Hong Kong Exchanges and Clearing Limited (HKEX) launched spot Bitcoin and Ethereum exchange-traded funds (ETFs), marking the first of its kind in the Asian market. The Bitcoin ETFs secured $230 million in assets under management (AUM) in their inaugural week, exceeding the AUM of virtual asset futures ETFs by nearly 80%.
COINOTAG recommends • Professional traders group |
💎 Join a professional trading community |
Work with senior traders, research‑backed setups, and risk‑first frameworks. |
👉 Join the group → |
COINOTAG recommends • Professional traders group |
📊 Transparent performance, real process |
Spot strategies with documented months of triple‑digit runs during strong trends; futures plans use defined R:R and sizing. |
👉 Get access → |
COINOTAG recommends • Professional traders group |
🧭 Research → Plan → Execute |
Daily levels, watchlists, and post‑trade reviews to build consistency. |
👉 Join now → |
COINOTAG recommends • Professional traders group |
🛡️ Risk comes first |
Sizing methods, invalidation rules, and R‑multiples baked into every plan. |
👉 Start today → |
COINOTAG recommends • Professional traders group |
🧠 Learn the “why” behind each trade |
Live breakdowns, playbooks, and framework‑first education. |
👉 Join the group → |
COINOTAG recommends • Professional traders group |
🚀 Insider • APEX • INNER CIRCLE |
Choose the depth you need—tools, coaching, and member rooms. |
👉 Explore tiers → |
Conclusion
The launch of Canaan’s new A1566 miner and Hong Kong’s introduction of spot Bitcoin ETFs mark significant developments in the crypto industry. These events highlight the industry’s resilience and adaptability in the face of challenges such as Bitcoin’s halving event. As the industry continues to evolve, these developments provide a promising outlook for the future of crypto mining and investment.
COINOTAG recommends • Members‑only research |
📌 Curated setups, clearly explained |
Entry, invalidation, targets, and R:R defined before execution. |
👉 Get access → |
COINOTAG recommends • Members‑only research |
🧠 Data‑led decision making |
Technical + flow + context synthesized into actionable plans. |
👉 Join now → |
COINOTAG recommends • Members‑only research |
🧱 Consistency over hype |
Repeatable rules, realistic expectations, and a calmer mindset. |
👉 Get access → |
COINOTAG recommends • Members‑only research |
🕒 Patience is an edge |
Wait for confirmation and manage risk with checklists. |
👉 Join now → |
COINOTAG recommends • Members‑only research |
💼 Professional mentorship |
Guidance from seasoned traders and structured feedback loops. |
👉 Get access → |
COINOTAG recommends • Members‑only research |
🧮 Track • Review • Improve |
Documented PnL tracking and post‑mortems to accelerate learning. |
👉 Join now → |