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Progress report · Oct 31, 2026 · 4 min read

CleanSpark ordered 3,800 Avalon A1566Is. In 596 days, hashprice never reached its power line

Canaan's 18 J/TH immersion machine needs $26.02 of hashprice a petahash a day to cover its power at 6¢. In the 596 days since March 2025 the lowest reading was $27.74. Here is what it has banked, why it never crossed, and what the halving asks of it.

Firsthand card: "Avalon A1566I", progress report, 18.1 J/TH, 249 TH/s immersion-cooled, with the machine itself on a dark background

Canaan Avalon A1566I (249 TH/s)

The immersion machine a public miner ordered by the thousand

The Avalon A1566I is Canaan's immersion-cooled miner: 249 TH/s from 4,500 W on our store record, which is 18 J/TH. Canaan's own site would not open for us, so the store record is our spec source. The hashrate matches the maker's own announcement: on 1 November 2024 Canaan said it would provide CleanSpark with "3800 Avalon A1566I Immersion Cooling Miners" of "average compute power of 249 Terahash per second (TH/s) without overclocking", for delivery in the fourth quarter of 2024.

Bought at the price it settled to, $4,283 on 14 March 2025, and landed at $5,747 in the UAE, it has run 597 days. It has mined and kept 0.0703 BTC, worth $5,467 today, for $4,034 of electricity. That is $1,433 of cashflow, or 25% of its landed cost, with every coin kept: a little over a third of the way through a four-year life.

Chart: Coins kept since March 2025, the electricity that made them, and where the forward figure puts it by the April 2028 halving.

Its power line is $26.02, and 596 days never reached it

A machine's line is the hashprice at which it stops covering its own power. At 18 J/TH a petahash uses 434 kWh a day, so the A1566I's line is $26.02 at the UAE's 6¢. Network hashprice was $47.16 a petahash a day on 14 March 2025, the day it was bought, with bitcoin at $83,145.

The lowest reading since was $27.74 on 6 June 2026, $1.72 above the line. In none of the 596 daily readings from purchase to 30 October did hashprice on our hashprice chart fall to $26.02. A machine that is switched off keeps every coin it has mined, and this one has never needed to stop.

The closest hashprice came to the A1566I's line in 596 days was $1.72 above it, on 6 June 2026.

Chart: Network hashprice per petahash per day since the month the A1566I was bought. Its power line at 6¢ is $26.02; the lowest point on the chart, on 6 June 2026, is $27.74. Open the chart

It never crossed, and the chart shows why

Every machine we host makes at most one move, to Nigeria, when a trailing year says cheap power is decisively better (why it is made only once). The A1566I has not made it. Our sites page lists Nigeria for air and hydro machines and the UAE for hydro and immersion, so an immersion machine stays where it started, and this one has run all 597 days in the UAE at 6¢.

That is a smaller disadvantage than it sounds, because the line was never in play. Today a coin costs it about $62,700 of electricity in the UAE against a bitcoin price of $77,392, and a new owner would see a first-year return of about 12%. Over the whole run a coin has cost about $57,400, a lifetime average that includes the months of higher hashprice.

Chart: Profit over electricity, month by month, at the UAE's 6¢.

What the halving asks of it

At today's difficulty, and with bitcoin back at its previous high of $124,493, it has another 0.057 BTC in it before the April 2028 halving, worth about $7,057. That would leave it at roughly 1.5× its landed cost covered by the halving.

The halving is the test. Hashprice was $33.21 on 30 October, and halved at an unchanged price and difficulty it would be near $16.61, under the A1566I's $26.02 line at 6¢. A machine that no site can pay for is switched off rather than mined at a loss, and it keeps every coin it has made. How efficiency decides how many halvings a machine survives shows where the line sits at every J/TH, and a halved hashprice is where the machines with the lowest J/TH keep clearing it.

A reliability record we do not have

We found no operator threads or repair write-ups on the A1566I to cite, so its durability is unknown rather than good. What the record does show is that Canaan sold it in volume to a public miner for immersion deployment, which is the use it was built for. A fault is a repair queue at a managed site, not a catastrophe: a failed hashboard is a line item.

Same box, a cheaper way to make a coin

Machines are the roof, not the building (the roof guide): the test is whether a machine earned enough to buy its replacement. The A1566I has banked $1,433 after electricity against a $5,747 landed cost. Its replacement should make a coin for less. The figure below ranks what is in stock today on cost per coin, then first-year return, and the newest Avalon is not always Canaan's most efficient one.

What beats it on cost per coin and on first-year return, in stock today.

Sources and further reading

Which machines this covers

Disclosure

Firsthand Bitcoin sells and hosts mining hardware, including this machine. No manufacturer, distributor or affiliate programme paid for or reviewed this page and we take no commission on the links above. Historical figures are computed from daily bitcoin price and network hashprice, each day valued at its own prices. Nothing here is investment advice.