 Show Posts
|
|
Pages: [1]
|
Hello all, @ensurance982: we did not post the last week because we were very busy keeping contact to interested investors. But we are still here and it seems it is time to respond. There have been heavy discussions about the hasrate development. Fur111 predicts a hashrate development of up to 107'753 PH/s n 18 months. Do you know what this means? Let' summarize it in numbers: - the prize per GH/s is now 0.87$ at the cheapes seller. But let's assume it goes down to 0.5$ per GH/s. Bringing 100'000 PH/s into the market would require 50 billion USD investment in the Bitcoin mining market. A market which currently brings 650 million USD per year. Bitfury raised 'only' 20 million USD. So, where do you find an investor who spends 50 billion USD which he will never see again? It is impossible for a market to grow exponentially without end, at some point it must end, the question is where. About this point we can discuss but not in such an unrealistic manner as 100'000 PH/s. - the point of fees for mining is a legal one raising the hash rate above the limit we expect. BUT: we would benefit from this in the same way as all other miners would, too. So, this would have no negative influence on the investment. The investment: The Here's my opinion: 10% per year (30% after 3 years) isn't bad, but no one knows how much the investment will return. When a prospectus says the goal is 10%/yr, I assume it's more likely to be 5%/yr. Ie. I would like some margin of error for their claim, and at 5%/yr it's way too risky (I'd rather buy Intel or Berkshire Hathaway stock, which have roughly the same year-on-year return). Intel has proven that it can get a 5-10% return per year on capital: http://ycharts.com/companies/INTC/pe_ratioThis company is simply claiming it can get 10%/year. I'd much rather invest in an established company with a 5%/yr return than a new, unknown company who claims 10%/yr returns. This is a quite simple look, you have forgotten a number of things: 1. this is the dividend after 3 years. But one year later you have another 30 % dividend payout, and one year later again. So, over 5 years you get roughly 20% per year as dividend becoming better with every year. 2. you ingore the share value. With a turnover of 50 million USD and a profit of 20 million USD after 3 years the company is worth much much more than the initial value. So your real return rate is the rise in the share value AND the dividend payout resulting in a much higher return rate after 3 years. Best regards Markus |
|
|
|
|
Hello,
we have not disclosed detailed information about our expectations of the hashrate development in we will do so only under NDA since these are business related internal information.
However, we can state this: we expect an ongoing development of the hash rate until the point where the mining hardware cannot mine efficiently even for pretty low energy costs including a deprecation. And we expect to break the 1000 PH/s wall within the next 18 months.
BR
Markus
|
|
|
|
just want to make sure i understand this right. you are looking for a min of $10k investment now for hardware not fully built yet, and you will start paying an unknown amount of dividend in 3 years?
is my understanding correct?
In principal yes, your understanding is correct. However, our projections expect about 33% of return on your investment in year 3. Additionally, you have the shares of the company which have an additional and much higher value than you payed for them in case of success and which you can sell, too. BR, Markus |
|
|
|
|
Hello all,
seems there have been plenty of discussions since Friday. Maybe I can clarify a couple of questions:
1. @rocks: you are completely right. A successful mine does not only require low-energy hardware but also cheap energy. Unfortunately, Germany and most parts of EU are too expensive. But Iceland is a quite efficient spot. Our Gen1 miners are running their and I can tell you: Sebastian saw a number of CoinTerra, KNC and Bitmine miners there, too. There are a few other spots with cheap energy in the world. However, you have to look worldwide.
2. The $15 million dollar can only pay for the very first miners which will not be 15% of the global hashrate. Instead the mining profit will be constantly reinvested in order to build up the mine to 15% of global rate. That's the reason for no dividend payout before year 3. We want to use the money in the build-up phase. We have detailed liquidity plans which we can discuss under NDA.
3. The time horizon. I already said it and I gladly repeat it: we believe in a long-term success of digital hardware and the Bitcoin in special. We want to take part in this process and we are sure there are other persons like us who do not only think of their short-term profit but have faith in the Bitcoin like us and want to be a long-term part of this revolutionary technology. We see it not as something to play and make money with but believe in the future success of this high-end technology.
4. In business you often find pioneers and late followers. The pioneers open doors and make their profit in the extremely volatile ramp-up phase. The late followers often have the better technology and consolidate the market. Yahoo for instance was much earlier in the world than Google.
5. brontosaurus explained the MPW very well. Typically, you get 50 to 100 chips from an MPW run. But the fab produces significantly more wafers than required for backup reasons and in different corners which we bought. Additionally, you can make special arrangements with a little bit more chips per wafer. In fact, we did not have enough chips for 15 fully assembled Gen1 cases. That's why we have 7 PCBs with 28 chips per board and a bit less than 100 PCBs with 20 chips per PCB. Each PCB is individually speed graded haveing chips running between 570 and 800 MHz. So, in all we had about 2000 chips and not more.
Best regards,
Markus
|
|
|
|
|
Hello all,
CoinBau will be German Incorporated Company (Aktiengesellschaft): its shares are freely tradeable but not at stock exchange. So, yes, with an investment of $10,000 you can get a dividend payout after year 3 (and in each following year) of about $3300 plus the grown value of the shares.
About the technical stuff:
We never said we have a full custom implementation. In fact it is a combination of standard cell and few important special cells which were customly optimized.
Two factors are relevant for economical success of a miner: the acquisition costs in $/GH/s and the operational costs depending on J/GH. The goal is the optimization of the complete miner: bring as much hash power as possible into one case which can be supplied with a standard PSU at reasonable costs. The goal is not to have the fastest chip, not to have the biggest GH/mm˛. The die prize is only one part and not even the biggest of the production costs. Thus, economically it is better to put a few mm˛ of silicon more onto the PCB, run it at lowest possible voltage (voltage is quadratic in power consumption) resulting in very low energy consumption per GH. The quadratic influence of voltage on power is pretty important because raising voltage for higher frequency results in more energy consumption per GH. So, it ends up in a trade-off between additional energy costs (high frequency and voltage) or additional silicon area costs. We calculated a lot and since the silicon is only part of the production costs we came to the conclution it is better to utilize more silicon area and reduce energy costs.
So, I only can ask: do you know a competitor offering 0.19 J/GH at less than $1/GH/s?
Additionally: by investing into CoinBau you save all margins for hardware sellers or cloudhashing brokers for your own rate of return.
In an MPW run you have only a few chips per wafer and, thus, the costs per chip are pretty high and dominate everything. Since the production of a wafer takes 2 months or more, in March or April we wouldn't have been able to get a return of investment with this first gen hardware. We would have needed a full mask tapeout but did not want to waste the money on an old technology when our 2nd generation was nearly final.
Best regards,
Markus
|
|
|
|
|
Our chips work between 60°C and 80°C depending in their speed grade, the adjusted fan speed and their position on the board.
Markus
|
|
|
|
|
Hi,
up to now Bitcoin has been a very volatile business, an effect we find in many extremely new business fields like the internet in 90s. But we expect the Bitcoin to consolidate and stablilize. We want to support the Bitcoin in this stabilization and want to be a long-term part of the ecosystem. We believe in Bitcoin and we hope others do as well.
The company will be a German one and its headquarters will be in Dresden. The datacenter where the miners are physically located will be in other countries, e.g. in Iceland as our generation 1 miners, due to much lower power costs.
Best regards,
Markus
|
|
|
|
|
Hello,
we expect less than $1 per GH/s retail costs and even less production costs based on our experience with our generation 1 miners.
The annual general meeting of all shareholders decides on the dividend payout based on the achieved profit, so we cannot preset the dividend payouts now. However, we would like to pay 50% of the profit (in our scenario these are about 10 million US dollar) as dividend to the shareholders after year 3. The rest we want to use for reinvestments. In the following years the profit and dividend payout will be even higher - assumed Bitcoin stays at least stable.
We know, we will require two years to build up the mine by reinvestment of the mined Bitcoins in order to achieve significant market share. That's the reason for no dividend payout in the first two years.
In order to build up the mine with a reasonable growth rate our calculations recommend a total of 15 million US dollar. We can also start with 10 million US dollar but in that case, the groth rate is much smaller and significantly less dividend payout will be possible after year 3.
Best regards,
Markus
|
|
|
|
Hello all, the development of the miners is done, so we can and will do tape-out as soon as we have collected the required money. As I've already mentioned, we are open for discussions about selling hardware. But these discussions are only possible with potential investors since we cannot start production without the necessary capital. Though our concrete production costs are business internal data we can state, the GH/s will cost less than $1 in production. Once more for all who are interested in investment or our hardware: do not hesitate to contact us via email: krause@coinbau.comThere we will be able to provide you more information or discuss your requests. By the way, it is hard to talk about ASICs without the word 'tape-out'  Best regards, Markus |
|
|
|
|
Hello all,
There have been some questions concerning our technology and why we are able to realize a power efficiency others can't. It's time to answer them:
Our hashing core is a fully pipelined architecture whereas our key differentiator is a very area efficient custom pipeline implementation which we developed within the last 6 months based on a so called cell based design approach. We combined standard cells with custom optimized complex cells which save area and power.
Our high density core enabled us to realize much more hashing cores on the same silicon area, running at quite low frequencies. The low performance requirements of a single core allow us to apply an ultra-low supply voltage, which is much lower than the standard at this GLOBALFOUNDRIES 28nm process node. Therefore we optimized and re-characterized our in-house standard cell library for such low supply voltages. To ensure that this will work first-time right, we developed the complete concept of this ultra-low voltage design in close cooperation with the GLOBALFOUNDRIES design enablement team here in Dresden, which has detailed knowledge of the selected 28nm technology produced here in Dresden too.
Our unique design achieves in nominal mode 1.4 GH/mm˛ and 0.19 J/GH. However, similar to other hardware providers, we can change the frequency of the hashing cores in a high performance mode realizing 2.1 GH/mm˛ at an energy consumption of about 0.29 J/GH.
If there are any questions to be answered, do not hestitate to ask.
Best regards,
Markus
|
|
|
|
|
Hello,
Due to the noise the miners cause and the energy they consume and which must be cooled we do not expect them to be used in normal households. Instead, in future we expect Bitcoin miners to run in datacenters. This was the base of our CoinBau project: running our Bitcoin miners in datacenters and still offering everybody the chance to participate.
However, we are also open to discussions with potential investors concerning hardware sale or cloud hashing opportunities.
Best regards,
Markus
|
|
|
|
Hello RoadStress and all interested, of course you are right, we did not have only the two cases we sold. A few are left and we took some time to make a movie. See it under following link (I cannot post a movie here direclty): https://asicrising.de/miner-action/Here is a miner running:  And here the printout of the cgminer running in the case:  And finally a screenshot of Slush's pool (older screenshot from different account):  Best regards, Markus |
|
|
|
Hello jimmothy, we sold two of our miners to Marc Coumans and MAT about 3 months ago in the context of negotiations with them. However, the miners were developed and produced by us. As you can see on the picture there is our ASICrising logo on the board. Here is an image of the testboard which we used to test the first samples of our chips:  Best regards Markus |
|
|
|
Hello all, we know 0.19 J/GH are hard to believe and it is true, concerning our second generation we only have simulation results. For those of you, familiar with hardware design: we performed a post-Place&Route SDF-annotated simulation of the computation of 500 random hashes of our core. These simulations are pretty close to reality and 500 hash computations are sufficient for a realistic mean power value. The power analysis was performed on the related VCD dump. Concerning our generation 1 miners: We do not have any problems showing them hashing. For instance, find a screenshot of one of our miners running at Slush's pool on the following link: https://asicrising.de/miners-use-case/We also have a video of one of our gen 1 miners in the lab: https://asicrising.de/miner-lab/And here some images of our hardware: Our basic mining card gen 1 connectable via USB or PCIE   Seven mining cards within one 1st gen 19'' sever case during assembling:  The server case fully assembled:  10 of our cases packed in a rack:  Best regards, Markus |
|
|
|
Dear all, Let me answer your questions: Nice enough site , you take physical meetings in Dresden? DE?
There will be an open day here in Dresden for all registered persons in about two months. Besides this, we also take physical meetings by appointment. Please send me a personal message if you are interested in such, with a short description of who you are. any chance you will sell your used mining rig  Unfortunately, this is not possible. We have only a very limited number of samples and need them for test and further development issues. "what is your estimate of 15% in 2016?" The concrete numbers are internal information which can be discussed only under NDA. However, I can tell you this: our calculations expect the break of the 1000 PH/s limit within the next 24 months as long as the Bitcoin exchange rate is stable at $500-$600. @RoadStress: thank you for your hint. I asked the admins to move the thread. Best regards Markus |
|
|
|
DRESDEN, GERMANY – ASICrising GmbH has developed the most power efficient mining hardware on the market, we are going to build the most profitable mine. And you can participate. The ASICrising GmbH will become CoinBau AG, a German incorporated company, selling shares. Your advantages as a shareholder of the mine are: CoinBau will produce its own hardware, avoiding any margins for hardware developers. No selling costs or fees for brokerage as in cloud-hashing scenarios will come up. You will partially own the mine, the hardware, the profit, a constant proportion of the global hash rate with always up-tp-date hardware. We will not make profit as long as you don't. Seems too good to be true? German engineering makes it possible. We are ASICrising, a high-tech start-up located in Dresden, Germany, the centre of Europe’s largest microelectronic cluster, Silicon Saxony. Founded in July 2013, ASICrising is a team of experienced electronic system engineers, with top expertise in integrated circuit design, PCB design and software development. We taped-out our 1st generation 28nm Bitcoin mining ASIC in August last year and developed a 1.8 TH/s mining rig based on that. The complete ASIC and rig development as well as the manufacturing of a limited number of engineering samples was completely financed by ourselves. For more information about our hardware and us, have a look at www.asicrising.com. In the last 6 months, our team of chip design experts has worked hard on the second generation of our ASIC. The result is a 28nm custom implementation optimized for extreme efficiency. The design is now ready for tape-out to be manufactured in volume at the GLOBALFOUNDRIES fab in Dresden. This ASIC will be the world’s most energy efficient solution for Bitcoin mining. Based on record-breaking 0.19 W/GH/s at chip level we will realize Bitcoin mining hardware for datacenter usage with a performance of 4.8 TH/s per 19” case and a targeted energy consumption of 0.27 W/GH/s per case. We will operate this hardware in an own mine. Our target is holding 15% of the global hash rate in 2016 and keeping this percentage long-term. To finance the setup of this large-scale mining operation the ASICrising GmbH will become CoinBau AG, a German incorporated company, selling shares. Take the limited offer and subscribe now to shares of CoinBau AG, one of the future Bitcoin mining market leaders! For more information about the project, please visit: www.coinbau.com Or have a look at our Executive Summary. Since I cannot post files, please find it here: https://asicrising.de/asicrising-starts-coinbau-project/ Dr.-Ing. Markus Winter CoinBau by ASICrising GmbH ASICrising GmbH Eisenstuckstrasse 5 01069 Dresden Germany Handelsregistereintrag (entry in Commercial Register): HRB 32540 Registergericht (registry court): Dresden Management: Holger Eisenreich, Sebastian Krause, Dr. Markus Winter |
|
|
|
|
