Since early 2013, digital currency market though has been low but this has offered new opportunities for the chip manufacturers of this industry. During the last decades of 18th century to the first decades of 19th century owing to the gold rush in the US a large number of the stakeholders and the land speculators become millionaire overnight. The opportunity to mine the gold in the mountains across rivers attracted the miners in flock. Later the management studies disclosed that in the spate of ‘rush for gold’the business with the most lucrative perspective had constantly been ignored---The Ferry. The case studies pointed that whenever the river interdicted the crazy gold miners there was an abrupt rise in ferry business. In 2013 a hit in the Bitcoins (a kind of digital currency), miners, buyers, investors hype have let Bitcoin market reach a remarkable high and set a new trend of money transfer through Bitcoins instead of currencies. Afterwards especially in the last hour of 2013, some incipient security faults of Bitcoin transactions started to surface. Added with the phenomenon of sudden rise and fall of the Bitcoins led to the consequences into the ban on bank-account-to-bank-account transactions of Bitcoins in China.  On May 2014, the US Securities and Exchange Commission released a notice that the investment risks in virtual currency are mounting high. The tightening regulatory and unstable market has made a many Bitcoin merchants lose money.  However, this collective "heat” has brought new opportunities for the chip suppliers.
Redefining Financing
　　Li Feng, the CEO of Gridseed, graduated from Department of electrical engineering, Tsinghua University.  Like many young entrepreneurs in IT field, he also beat the path in Internet, mobile, games, animation, hardware, and other fields of this business. For 15 years, Li Feng has gained the experience of product design, marketing, strategic planning and project management etc. that has laid the foundation for his success in the chip industry. At the beginning of 2013, Gridseed team entered the chip design field of the digital currency. "At that time, our main business was to design the mining machine chip for digital currency" Li Feng said. "At the beginning of the establishment, our team didn't imagine the Bitcoin currency market would suddenly be heated to such an extent that within half a year the Bitcoin would catch the eyes of even a layman in China." In January 2013, one Bitcoin was worth 100 RMB, & later in October 2013, the Bitcoin transaction leaped to 8000 Yuan. Being different from the traditional money the central bank, government organizations, and enterprise support or the credit mechanism were not interested to show their pendency through the Bitcoin transactions. Noticeably, the requirement of the network agreement torrent file for the bitcoin transactions is based on the password encryption, and the complex algorithm. The whole process of the transaction involved the professional knowledge of computer. Therefore, from the first few years of the 2013, most of the faithful users of the Bitcoins in China have been the IT professionals and the students. When the bitcoin exchange rose to RMB 8000 it attracted the attention of a many crazy investors and also the elderly people raised the greed to make money in China. Sky is the limit for the bitcoins and it has been impetus to the development of the industry chain. A large number of IT professionals and entrepreneurs have plunged into the Bitcoin market with a madness to dig the ‘gold’. While mining, a bitcoin miner would do calculations through the mining device (computer hardware) to produce bitcoins or do confirm the transactions through Bitcoins. Bitcoin miners would get a currency as a reward for the confirmation of the transactions and also a new bitcoin. “For the high efficiency mining output there is a specific requisite of the mining hardware set up and software support. These devices are considerably expensive.” Li Feng added.
　　Li Feng envisaged the lucrative perspective on doing research and development on the mining chips and founded Gridseed Company. Nevertheless, as a start-up-company the shortage of funds was inevitable and when Li Feng is already engaged in Bitcoin business he acknowledges the fact that the bitcoin niche making is the most difficult part of the financing. In the entire bitcoin production chain; including the research and development, and manufacturing of the mining devices, mining transactions and applications, the most lucrative among these to draw the venture capital have been the transactions and the payment processes. The reason is simple; the chip manufacturing is at the most upstream of the industry, the investment return rate is very low, and when there are those who do not want to pay then the restrictions on the transaction is quite obvious.
　　Time is the most important aspect for a business to grow. Due to the surge in the Bitcoin market since October 2013, Gridseed does not need foreign investment to run independently. In December 2013, Gridseed introduced the GC3355 mining chips and in January 2014, they started using the chip with dual mining capacity for Bitcoins and Leticoins. The unique colorful USB (called, Chrysanthemum) was available in the market. Since then the company has entered into the positive loop.
　　“In one month we have already bought more than one lakh pieces of this device and most of them have been sold to the overseas market. To my amusement some of the big mining industries have already bought more than thousand devices.” Lifeng added. In fact, in this competitive era of digital machine some of late entrants have used a different approach to solve shortage of their fund related problem. “Now there are some of the industrialists who are engaged in pre-sale through the method of ‘procurement production’. Lifeng explained. ‘Procurement production’ is a situation when a customer with a partial or full payment of a piece of device to the seller reserves a piece of device in their name before it is manufactured. But this way the whole risk is imputed on the miners because the degree of the difficulty of the mining of bitcoin is increasingly becoming tougher and therefore if the device were delivered considerably later then the date of manufacturing this would certainly bring loss to the miners. “Keeping the interest of the miners in mind bitcoin mining devices would be traded on stock.” Lifeng convinced the reporter.
‘Biting’ Chip With Internet ‘Taste’
After resolving the funding barrier, Lifeng and team had to face another more difficult barrier. Traditional chip companies could not keep up their pace with that of the industry of the digital currency. For example, the computing capacity of the Internet is increasing by each second and in order to cope up with the Internet industry the bitcoin chips research and development, and the replacement cycle needs to be faster. As a customary, the replacement of a chip was required per year but now we need to update these chips every 3 to 6 months.
　　Ever since the Gridseed was established owing to the shortage of production workers and the sales staff, research and development at Gridseed was not able to reach the customers directly. Once the chip was produced the authorized dealers were contacted immediately for sale, and the mining production company did directly sold it too. This method did not give the chip industry any chance to understand their customers and the need of the end users. This could also be true that the retailers and the distributors did not integrate with the end users and therefore it was hard to control the listing cycle. Li Feng recommended that the pace of the chip industry must go hand in hand with the Internet industry.
　　However the chip industry and the Internet industry are the two sides of a coin. Internet is developing fast rapidly. If an Internet product or an application is left online then that could be modified with each feedback given by the online users. But in case of chips, unlike Internet industry once it is packed and is sold one could not get a chance to upgrade the chips again. To keep the pace and to shorten the replacement period; Gridseed engineers have worked till four O’Clocke in the morning for the entire month during the spring festival. Lifeng though agrees that relying on long working hours is not the long time solution.
　　Last November, Li Feng decided to let the Gridseed take complete control of the production supply chain. In simple terms the Gridseed would have the agency to hardware design, mass production and rapid scale deployment. “The feedback mechanism on the Internet and rapid designing of the chip production, provision of services are the potential enterprise of competence in the future”. He said.    
　　The chip production, research and development, packaging and other process have to be taken into account with equal weightage. The time is capital and must be converted into cash. Li Feng introduced that in most cases we need to give three sets of hardware solution but mostly one of them would be used and rest two would go in vain. This simply means the enterprise would face risks since the research and development of the chips though would not bet finished but the later procedures would already be accomplished and leading the wastage of the residual devices.
　　With the due course of time Gridseed has enriched experience and have learned to regulate the production chain and supply the best product to the market. Gridseed already uses its TSMC account and therefore has the authority to operate the chips independently.
Each industry has its own pattern of development. Although the digital currency is at its low in the market but with the scrutiny of Chinese state regulatory system and the Internet transaction and up gradation of the payment mode, I believe that the digital currency mining industry through Internet based chip would stand stable and would carry on the path of the development.

Chinese mining device company’s first show on international Bitcoin conference stage

Gridseed, the internationally leading Chinese company in chips development and mining device manufacture, will attend the Bitcoin 2014 conference, hosted in Amsterdam from 15 to 17 May, as a supporting sponsor. This is the first show for Chinese mining device company on the top international Bitcoin stage.

Bitcoin 2014 is the annual international digital currency forum, exhibition and networking conference, organised by the Bitcoin Foundation. This is the worldwide top summit in fintech industry. Last year, Bitcoin 2013, which is the inaugural conference, was held in Silicon Valley and attracted over 1,200 attendees, speakers and exhibitors. The topic for 2014 conference is ‘building digital economy’.

In addition to supporting sponsor, Gridseed also sponsor the first annual Blockchain Award organised by Bitcoin Foundation and Blockchain.info. This inaugural award is set for celebrating the creation and excellence in Bitcoin community.

Gridseed is the only company in the world that owns all the three generations of crypto-currency chips. It also has the capacity of whole industrial chain operation and is limbed with a very stable team for selling mining devices and even, going one-step further, for deployment of the devices at the customer doorstep. Gridseed has created several ‘First’ in this industry: Gridseed team is the first one that developed and produced ASIC chips for Bitcoin mining and the first one who developed ASIC chips for Litecoin mining. The well-known Gridseed mini USB mining machine was released for ready on sale in middle January 2014 and sold to more than 40 countries and regions. The current product G-Blade mining machine (‘Little Black’) is also hot selling.

Gridseed CEO Frank Lee said that to attend the Bitcoin 2014 conference was not only an indication of Gridseed’s leading position in the field of mining chips and device, but also a declaration that China has won a place in worldwide digital economy.

Recently with the mass production of Gridseed G-Blade，nick name ‘Little Black’, sell in the market, Gridseed USB Mini has been stopped producing. By the latest news on 5th May, Gridseed USB Mini inventory has been sold out except a small amount of collective edition. Gridseed will lead the miners from the age of mini USB to the age of G-Blade mining device with larger mining capability.

Gridseed USB Mini is the first generation product that is launched by Gridseed, and is the first Scrypt mining machine in the world. Its unique dual-mining technology supports mining LTC and more than scores of Altcoins mining. Moreover, the super low power consumption makes it more eco-friendly. The overall ROI surpass the graphic cards with the highest performance in the world. Gridseed USB Mini brings new hope to the worldwide miners in the field of virtual currencies.

Miners have loved Gridseed USB Mini since it was released. In addition to being called nickname by miners, Gridseed USB Mini has also been DIY decorated in various decorating competitions. However their love for Gridseed USB Mini has never changed. Over 4100 videos about the mini USB mining machine can be found on Youtube. With the help of miners and media’s promotion, Gridseed is becoming more and more popular.

Breaking out the judgment of many experts that ASIC chips are not suitable for LTC Scrypt mining, Gridseed USB Mini ushered in a new age, and released products half a year earlier than other competitors, establishing a new milestone for ASIC mining machines.

Since the launch of GC3256 (A3256) ASIC chips, this is the second time that Gridseed stands on the top of this field on behalf of China. From 17th January of 2014 when Gridseed USB Mini was launched in China, and then Gridseed USB Mini started selling overseas, until it has been sold out on 4th May, Gridseed USB Mini has been sold to more than 40 countries in three months, including Europe, USA, Russia, Japan, Korea, Zimbabwe and other Asian, African and Latin American countries.

Gridseed’s present products G-Blade mining machine ‘Little Black’ includes 80 GC3355 chips with double boards. Compared with Gridseed USB Mini, it is more stable, faster, has lower consumption and easier to maintain. In order to dedicate all of the production capacity to bestseller ‘Little Black’, Gridseed decided to stopping the production of mini USB mining machine to meet the demand of market.

As the terminator of GPU, Gridseed USB Mini has brought large amount of miners from the age of graphic cards to the age of ASIC. Taking this as an opportunity, Gridseed will hold a series of activities to reward the supports of miners and memorize the successful history of mini USB mining machine.

May 4th Beijing. The leading global virtual coin mining industry Gridseed has announced today that the company has got the exclusive rights to process and mining of Innosilicon 28nm Scrypt algorithm A2 chips. Gridseed and Innosilicon both would work together for exploring the opportunities in global Scrypt algorithm chips and it’s mining and the same time to push the mining ability of the mining devices to the zenith. It is reported that both the companies have agreed to find the new avenues for robust and stable co-operation.  

28-nm technology-A2 chip is the first ever ASIC-chip made by using 28nm script algorithm with a mining capacity of 1.6-1.8 MHs at the rate of 10W. This ASIC-chip could reach the mining capacity of 150MHs if provided with 1000KW power supply and a silent coolant.





A2 chip is a product of the joint efforts of the Innosilicon Silicon Valley team and research and development team of China with whom Gridseed has been able to maintain a very close communication and cooperation with.  

Thus the cooperation between the Gridseed and Innosilicon is increasingly becoming stronger. Both companies have in-depth understanding about the virtual coin industry and have achieved a lot in the field of chip designing. Very recently in December 2013, Gridseed has already launched the first ever chip, GC3355 that could simultaneously support the Bitcoins and Lytecoins. Innosilicon has also been able to successfully launch the BTC Mining Chip then. The cooperation between the two companies would bring a new paradigm in the entire industry of its kind. 

On this successful strategic cooperation between Gridseed and Innosilicon, CEO of Gridseed Li Feng said, “ Gridseed being pioneers in globally in manufacturing and researching mining chips and mining machine Gridseed has been dedicated to ‘selling in stock’ and providing services to the most advanced chip technologies of crypto-currency.” Innosilicon choose Gridseed as its worldwide exclusive agent, it is the most powerful recognition to Gridseed in its strength and business ideas. He ensures that entire industry will benefit from this cooperation.

Gridseed is the only company in the world who owns three generations of cryptocurrency chips. Gridseed team dedicates to designing and producing mass production of crypto-currency chips, selling mining devices as well as running large-scale deployment. We have the capacity of entire industrial chain operation and have already created a lot of ‘First’ in this field. Recently, Gridseed is the global biggest manufacturer in field of cryptocurrency chips and miners. Products of Gridseed has been sold to more than 40 countries including China, the United States, Britain, Germany, Russia, Canada, Australia, South Africa, India and so on.

In December of 2013, Gridseed released the first GC3355 chips that were able to support dual mining for both LTC and BTC (the second major cryptocurrency in the world). The 5-chip mini USB mining machine ‘Infinity USB Mini’ started stepping into the world since January 2014, which supports dual mining for both BTC and LTC algorithm (like SHA-256 and Scrypt). Meanwhile this is also the first device for Scrypt algorithm in stock. Following Gridseed Infinity USB Mini launched, the epoch-making G-Blade mining device showed up in April.

As bitcoin mining increasingly becomes more of a professional pursuit, hobbyists and newcomers have turned their attention to scrypt mining.

So, at CoinDesk, we wondered, ‘why not try scrypt mining ourselves?’

Watch the video to see how well we fared:




We got our hands on a Gridseed G-Blade miner, one of the first scrypt miners in the market to use ASIC chips. ASIC chips have been used to mine bitcoin for over a year, now they are making their way into scrypt mining.

That’s making scrypt even more attractive to newbies.

MinerEU is the European distributor for the China-based manufacturer Gridseed. CEO and co-founder Jing Wei explains why it is easier to get into ASIC scrypt mining:



“The clear advantage of scrypt ASIC mining is lower power consumption. It’s scalable: you can even set up a mining farm at home. It’s also very easy to set it up. We have streamlined the process. [...] In a few minutes you can connect all the parts together.”

It is easier and faster to make money from altcoins rather than investing in expensive and industrial bitcoin mining equipment. Mining equipment manufacturers have already announced refined scrypt-mining equipment.

While Gridseed G-Blade is one of the first to be launched on the market, KnCMiner has already announced their plans to launch their scrypt miner Titan.

Mining Adventures at CoinDesk

Each Gridseed G-Blade miner has two boards with 40 GC335 ASIC chips on each one. This $1,600 miner promises a total hashrate of 5.2M.

We brought two of the two-blade miners into the office. Including installing the relevant software, it took us about an hour to set them up. But, now that we’ve done it once, next time would definitely be quicker.

Gridseed G-blade



Depending on what you decide to mine, the return on investment of these miners is three to six months. We decided to mine dogecoin and managed 100,000 doge with two miners in a week.

That’s not a bad start to our scrypt mining career, but it’s certainly possible to improve on the ROI by using the multipool.

Wei says:

“In theory the smart switching technology should give you a higher return that mining one type of alternative coin, but the problem with that is the switching process. If we switch it over from one coin to another, the calculation power will be lost during the transition.”

While we’ve parted with the miners, we’re still working out what to do with our $58 worth of dogecoin – suggestions welcome in the comments below.

http://www.coindesk.com/mined-100000-dogecoins-one-week/

Who are we?
Gridseed is a company making BTC/LTC/Altcoin mining devices. We made the first script-mining devices, which we have sold large quantity to over 50 countries.

What's our product?
We currently have two products: Infinity Mini USB Mining Device (5-chips) and G-Blades (80-chips). For more details, please check our website: http://www.gridseed.com

Do we do pre-orders?
Never.
When we say we are selling a product, we have it.

Where are we?
We are in Beijing, the address is: 12 Floor, ShuGuang Plaza, A Building, JingShun Road 5, ChaoYang District, Beijing. Welcome to visit us!:)

How to become a reseller?
We want the most passionate, capable people in the world. You must be dedicated to digital currency, better have sales or distribution experience before. For details, please contact Mr. Yunzhu Lin (Frank) at linyunzhu@gridseed.com or skype: gridseed.bj


We are looking forward to hearing from you!:)
Sincerely,
Gridseed

Gridseed, the Chinese rushing leader of producing mining chips and mining machine, has recently released their G-Blade mining machine ‘Little Black’ and started worldwide delivery since the end of last week.

G-Blade mining machine ‘Little Black’ was designed in a double-blade style and adopted GC3355 55nm chips, which was developed by Gridseed team. 40 chips are allocated on each boards, and each machine has 80 chips in all. The mining capability of each Scrypt Hash would reach 5.2~6M. The power consumption of ‘Little Black’ is only 100W, which is about 1/20 of the same grade mainstream graphics power consumption with the same mining capability. Its tiny size and regular structure would be suitable for large-scale deployment, and has been welcomed by worldwide customers since released. A part of the miners and mine owners have received these devices on weekends and started to enjoy mining!

The headquarters of Gridseed, located in Beijing, is the first team who has succeeded in developing and mass producing Bitcoin ASIC chips, and the first one who has developed Litecoin ASIC chips with success as well. This not only has broken the worldwide experts’ judges that ‘no ASIC mining machine will succeed under Litecoin Scrypt algorithm’, but also has launched new products half-year ahead of others. The well known Gridseed five-chip device ‘Gridseed Infinity’ was released in the middle of January 2014. The total sales reached 10,000 just after 3 months, and sold to more than 30 countries and regions.

‘Prompt sales’ is the marketing strategy that always consisted by Gridseed, which can be viewed as an unique flag in the global market with expanding futures. This strategy is welcomed by domestic and foreign customers.

In the last week the first batch of ‘Little Black’ had been sold out and shipped. The warehouse of Gridseed is trying their best in order to finish the next batch of device.

为了回馈广大新老客户，格锐思捷近日展开了力度空前的全球首发莱特币ASIC刀片矿机Gridseed G-Blade（昵称“小二黑”）春季让利促销，限售2000台的活动。
经过官方严格审核，目前活动正式通过授权的代理商包括Diginforce、GAWMiners、MinerEU和HASHRA，其他任何组织和个人都不能代表格锐思捷或者代理商进行相应名义的促销活动。从非官方授权促销渠道获取的Gridseed矿机，格锐思捷官方将不承担任何法律责任，并保留追溯的权力。特此通知。

格锐思捷
2014年4月12日

http://www.gridseed.com/news/detail/3

In order to express gratefulness to old and new customers, the world's first blade LTC ASIC mining machine Gridseed G-Blade (nickname "Little Black") is in “Spring Promotion”, only 2,000 units available!

After evaluation, Gridseed official authorized resellers are””and “”. Any other organization or individual are not allowed to represent Gridseed or official resellers to run promotional activities. Gridseed will not take any legal responsibility for any Gridseed device obtained from unofficial resellers, and Gridseed has rights to take legal actions to violations. Hereby noticed.

Gridseed
April 11, 2014

http://www.gridseed.com/news/detail/3

Thank you for being serious

Hi Good to have your reply.
This is real . I am the staff of Gridseed

Today, the world's first LTC blade ASIC mining machine Gridseed G-Blade starts selling; it’s not pre-orders, it’s in stock. The official retail price is $2,929.
Gridseed G-Blade LTC blade mining machine is currently the only Scrypt algorithm ASIC spot blade mining machine in the world, also is the world's lowest power Scrypt algorithm blade mining machine.
Gridseed G-Blade LTC blade mining machine includes 80 GC3355 chips, two boards design. Mining machine scrypt (like LTC) mining capability/unit is 5.2MHS,power consumption is 100 watts only, which is only equal to 1/20 of the same grade graphics power consumption with the same mining capability.
Mining machine size is 30.5cm * 11.5cm * 9.3cm, simplifyappearance design, suitable for large-scale deployments. Meanwhile, the system uses super heat duct design, easy to deal with a variety of complex large-scale mine cooling conditions.
Users can send emails to sales@gridseed.com, or contact overseas authorized agency (detailed name list please log in the official website www.gridseed.com). For product, price and service further information, please pay attention to Gridseed official website and official Twitter account Gridseed and Facebook account @ Gridseed Miner. : ;

Follow us on facebook ：https://www.facebook.com/pages/Gridseed-Miner/633434936730117
Follow us on Twitter：https://twitter.com/Gridseedminer