we are happy to announce that we can upgrade all of our ASIC X11 clients from one year to two year contracts
Still a ROI of around 600 Days. And that does not consider the inevitable increasing difficulty. I see little to no way how it could be profitable. Even if you would cut the prices by 50%. Or did I miss something? Last July the difficulty was 51 Billion now is 213 Billion. It is probably safe to say by next July it would be over 500 Billion. In 600 days difficulty could be 1 Trillion  |
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And Genesis: Marco Streng is a miner, though he does not carry a pick around his base in south-western Iceland. Instead, he keeps tens of thousands of computers running 24 hours a day in fierce competition with others across the globe to earn bitcoins. |
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Been interesting watching Bitfury devolve from one of the most respected miner manufacturers, to basically just a level or two below pond scum.
They have always mined for themselves and been at least 5 steps ahead of the public. Bitmain is only 2 steps ahead of the public. July 9, 2016: Bitfury CEO Valery Vavilov, who estimates electricity makes up between 90 and 95 percent of bitcoin mining costs, says one way his firm stays competitive is by making its own hardware. He also says the company, founded in 2011, is prepared for the mining reward cut. "We're prepared - we already went through one halving event in 2012," he said. "You can forecast this...so you have time to prepare, and if you're prepared you can live quite easily." |
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Interesting to revisit my post from this long back as an estimate to the S5, S7 and future Bitfury chip efficiency.
When the S5 was released, x=25 for Jan '15,
11.2e(-0.118)(25)=0.586 W/GHs
7.0376e(-0.112)(25)=0.428 W/GHs
When the S7 was released, x=32 for August '15:
11.2e(-0.118)(32)=0.257 W/GHs
7.0376e(-0.112)(32)=0.195 W/GHs
Let's say we see Bitfury chips by April '16, or x=40
11.2e(-0.118)(40)=0.0998 W/GHs
7.0376e(-0.112)(40)=0.0798 W/GHs
Could be on to something here, first formula seems to hold somewhat true at this time.
That's looking awesome. hopefully Bitfury hits there target and has a retail solution, it aligns with my upgrade cycle. Bitfury has never been friendly to the retail environment, even when they did share some of the chips they WAY overpriced it. They already have funding from major investors to have everything to build in the first place, selling to retail is probably extra runs from the chip and wafer orders, or older tech as they are developing the next gen. |
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Hello,
I have been wanting to get into mining for a while now and was wondering if I can get some advice. I want to invest about 2-4k into this project and was wondering what the most profitable way of doing so would be. I do live in an area where solar power can be done ( just have to find how much power i would need )so what advice do you have? I will be able to drop another 2 -4 k ( not including what profits I get from mining)"farm" every 12 or so weeks. My goal would to be able to have a good profit margin after a year or so
There are a lot of variables: -what is your electricity rate -what is your technical knowledge -what do you know about bitcoins -do you have a space for mining equipment: it consumes a lot of power, and generates a lot of heat+noise If you can answer these questions, we can probably give you some hints on what to read/study/buy/... My electrical rate is 0.0295per kwh during peek My technical knowledge is some what high. I am a software developer and have above average hardware knowledge. From what I understand about bit coin is you use your "device" for computing power to mine(gets harder and less reward over a given about of time.) It is more profitable to join a mining group. I do have space for the rigs Amph is also giving some good advice, but in case you're really interested in bitcoin mining, this will help you out: Assumptions: - you have bought 4 antminer S7's @ 600 USD/piece + 21% VAT + 500 USD transport (i don't know where you are from, so i just guessed) => total cost = ~3400 USD
- your electricity rate is 0.03 all the time
- you're pool mining (this hashing power isn't good enough for solo mining)
- you have no extra cost
- the diff didn't rise
- the price didn't move
- the blocks didn't halve
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=18920&p=5689&pc=0.03&pf=0.01&d=165496835118.22600000&r=25.00000000&er=419.00000000&hc=3400Now, the break-even point would be 170 days... This is not good, because in about 3 months, the ammount of bitcoins per block will halve, so your break-even point would be well after this break-even point. Also, 170 days is a long time when predicting the future of the bitcoin price. This calculation means that mining would actually be a gamble... You can do it, and it can be profitable, but there is no guarantee whatsoever. Maybe you can buy some really cheap second hand hardware, and try to break even before the halving... I didn't do the calculations tough. This assumes the difficulty doesnt change in 170 days? Like it jumped 180% the last 170 days. |
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Jan 2016
They are still working out design power issues. omfg
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WOW that a goods a deal free electricity from 9PM to 6AM, where country you live ? My advice you can buy 1 antminer s7 and if from 1 antminer s7 you get a lot bitcoin, buy 1 again.  america, texas, on the border...i shall say no more It also depends on what your electric costs the rest of the day. If you only mine for those 9 free hours it'll take a lot of your time (having to start/stop the miner each day, unless you script it) plus youre only mining 38% of a day. You should figure out what it would cost to run a miner 24 hours, including the 9 free hours. It might still be profitable. Or look at buying older hardware for cheap/free and run that only during the free hours.
The problem might become that if you start a big farm of old (free) hardware the power company will realize it and start charging you for the "excessive" use.
the cost during the day is $0.13 a kilowatt. i ran a script of my dear old S1 way back to shutdown as for the power issue i kinda already run about 4 compters at about 650watts each at night and only night for "projects" and they haven't said anything yet the next step would be to see how many wattage this place can deliver, and how much is your investment
then you can go ahead and buy a s7, don't bother with other asic, as they require more wattage, which mean more psu
breakers in this room would be a 15 amp price investment is maybe 1k to 2k but 2k is most thats why im kinda at a crossroads. What are you doing with those 4 computers that you run 650 watts each? Playing videogames on max with dual video cards?? |
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By your standard (less than 8c/KWH) my electric is cheap - yet I've NEVER had any of the calculations I've done show that the S7 will ever pay off. Usually not even all that close to doing so.
VERY VERY cheap (3c or under) maybe, though right now even at the way-too-late drop in S7 pricing it's still looking VERY iffy.
NOT 7.5c
I would agree on cheap being closer to 3C or so. The big guys can chase this electricity price and build where ever they find it. This is why they have a huge advantage. Some gear even at halving at 3C chances are they still can run. Us more "regular" user's would be 8-10 cents or so I think. And above 10 get's tough unless your one of those who say's they use it for heat in winter... then it get's a little more complex. Unless they own their own land or building (millions in capital expenditures, not including equipment) including the maintenance and real estate taxes that would add .02 to .03 to whatever wholesale rate they are paying for electricity this is where the small guy doesnt have that over head, however the small guys cannot get .03-.-6 electricity rates. |
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What a joke these guys. Announcement in Nov 2013 (Difficulty 500,000) about taking preorders for hardware. Now is Oct 2015 and they still are working out design bugs! Lucky I didnt fall for this crap as I was tempted back then but the Antminers were just coming out and to mine with those and convert to LTC was still economical.
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 LMAO |
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ALPHA messed up their design AGAIN. LOL
OMFG what a Disaster:
[ "Greetings Miners!
We sincerely apologise for getting this update out to you after such a long time. As we have been at a stage where we have just been awaiting system design changes and tweaks there has not been much to update on; as these have been more technical than physical so we do not have much to show.
We had originally planned to have our devices already shipped, as said in our previous update we have all our chips ready; the only delay was getting the system design so we are manufacturing and assembly ready. We had sent our system design for review before manufacturing to a UK based company who are experts in system design, they had found flaws in the system design which was made by the Indian design team. We were told if we were to take our design for manufacturing there would be serious issues. Therefore, we have contracted this UK based company to commit to making these on both the 50Mh/s and 250Mh/s systems.
The technical recommendations and changes are summarised below:
Design analysis shows that the issues found can be solved by bill of material (BOM) and hardware changes. The proposed solutions need to be tested on a prototype to verify that the proposed solution is effective.
DFM review shows that an update to the PCB is needed before going into mass production.
System analysis shows that the Enpirion power supply can be used as an alternative power supply solution to the Texas Instrument power supply without compromising cost and performance. Recommendations for future expansion are also considered.
Recommended that the USB port at the back of the data miner system be reallocated as a USB to serial interface. Having a freely accessible serial interface would be useful in scenarios requiring emergency recovery due to an invalid network setting rendering the system inaccessible via Ethernet. One such solution would be to use an appropriate FTDI USB to serial transceiver.
Towards the end of July these changes were sent to our Indian design team so they could implement them and send prototypes back to the UK based team. The Indian design team is days away from completion, once these changes are made we will start manufacturing and shipping in phases; the 50Mh/s devices first and then the larger devices.
We truly apologise for the delays and are doing the best we can to ship ASAP. We have been with our original designers from the start and it is difficult to change contractors if they have first hand knowledge of our chip and system design, this knowledge dates back since 2013 with our FPGA design. But now when we have hit the stage of the project where we have had the chance to slowly hand-over our designs to a UK based company we are seeing positive signs and progression.
When developing a new technology from a white-paper and concept, there are bound to be delays which we cannot anticipate, unfortunately we were hit by these delays. As this was a pre-order project we did make customers aware most of the work was yet to be completed. I also believe there are currently no other scrypt-based miners being shipped from any competitors, so when we do ship I believe customers would be delighted to finally have our product in-hand. Finally there is something very important to me that I want to make mention of, my intention is to try to compensate all batch 1 customers (including those refunded) in the future with our further projects." ]
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Next support at $210
The bright side is the EMA is $250
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I didn't mention that, because it's not worth mentioning. It's a 2-4% difference between them, on a rough estimate. On 1,900W, that's a whopping 38-76W difference between Gold, Platinum and Titanium. Also, it's not just the % difference you have to account for. If it were, then 92% Gold efficiency on 230V, at 1,900W, would be 1,748W. No where near 1,400W. Like I said, there was a nice write up on it, using calculations based on actual usage readings, but as usual, KnC is a bag of dicks.  And yes, 220/240V is also slightly more efficient. That's one of the bonus reasons I wired mine for 240V. I get the same rating with Gold on 240V, that I would with Platinum on 120V, without having to pay the premium for a Platinum PSU. Platinum will likely never pay for the little extra 2% efficiency in the miners lifetime, let alone the uber premium Titanium. In other words, Titaniums would save me about $79 a year on a Neptune, but cost nearly $500 more. That would pay for itself in oh....only 6+ years, lol. For 2 x 860 watt psu on Seasonic is only about $40 diff and 2 x 1000 watt EVGA about $40-80 premium platinum over gold. Average plat 860 watt at .16 kw/hr would save about $35 per year each over gold on 240v and $25 on 115v (Pushing 90-100% load mining) |
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Not track it down like radar, or last known owner, But if they contacted Spondoolies they could probably provide the date of manufacture.
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Bumped off temporary support at $237
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Will knCMiner offer Batch 1 Titan customers bonus mining cubes just like Nepy customers?
If yes, I'll be very happy~
Customers are lucky just to get them a year late, there was no refunds on them like with the Neps. |
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After spending the last 3 weeks above the daily EMA it is back under it now.
EMA at $264 now.
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The only way to test them are on computer slot to measure the speeds. On Android phones the OS is limits the speed and cache for the sd card and internal memory to conserve resources
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According to Spon the next launch of miners is fall 2015…
I would rather have an 1.2 TH miner with 3-400 watt than a 1.7 TH miner at 1200 Watt and then a better cooling setup of last row of chips inthe sp20, since they get a little too warm.
But difficulty might be 70-80 Billion by then. |
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