[BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast)

[VolanicEruptor]

Hi All

I just spoke with Hashfast regarding an updated delivery schedule and they asked me to hold off on announcing it for another 24 hours, when they'll make the information public.

Really sorry I can't give you more information at the moment, but I do not want to risk breaching the NDA with a premature announcement.

You obviously forgot that you would tell people further instructions on how to transfer their shares from Bitfunder.  This was 2 days ago.  Lose.

[paul3]

So big secrecy... It must be very bad news, another month of delay?

4 big sells today (150k, 33k, 31k, 24k) - did anybody got any informations in advance or just speculation on bad news?

Not much bids left, I'm not sure hold or sell now?

[hd060053]

sell it before it goes to 0, organisation and communication is very bad lately, im glad i sold earlier.

[Bargraphics]

HashFast Production Update

We want to update our customers on the progress of our machine production.

Producing a rig as powerful as the Baby Jet or Sierra requires coordination with a host of fabricators and designers — like the machines themselves, it's a lot of moving parts, and fluid timelines.

This is the situation:

Silicon Wafer Fabbed Out Successfully
The silicon wafers have completed fabrication. The silicon is the core of the chip, and the complicated etching process that creates the circuitry on the silicon is finished. Now the process is starting of taking this silicon, with its complete circuits, and packaging it into finished chips. The wafers are en route to San Jose, where they will be cut into individual die. We’ll get photos for you soon.

Substrate Update
When we designed our substrates, we knew they'd be one of the most unpredictable segments of the chip's production. Substrate production has a lot of risk — at high power, a substrate can overheat, causing a rig to underperform. While rerunning simulations in Cadence, we saw some concerning currents in some of the vias in the substrate. In order to address that, we've been working closely - every day - with both our substrate designers and our manufacturing house. We’ve made key improvements to the design that can be incorporated even into those substrates that are already in manufacturing. Even so, the latest delivery estimates for the modified, improved substrate design are three weeks from today. This means that we would be shipping our first rigs mid-December.

Obviously this is an incredible concern to us, and to you. So for the last several weeks, we've been engaged with an additional team to work on an additional substrate, simultaneous with our existing fabricator. Essentially, we now have two teams racing to produce the best and fastest substrate. As soon as that is done, we'll marry the substrates to the finished wafer and begin assembly of the rigs.

Miner Protection Program
For those of you covered under the Miner Protection Program™ (https://hashfast.com/miner-protection-program/), this delay will not affect the starting point from which benefits are calculated. For First Batch Baby Jets, the start date of the program will be retroactive to October 30th. We want to make sure a delayed ship date does not reduce the value of the program.

A lot of smart, hardworking people are working incredibly long hours to improve our production schedule. If we are able to ship rigs sooner than expected, we'll do so. And, of course, we'll let you know as we receive further information from our production line.

- The HashFast Team

Please update us Will on what HashFast is doing for it's $2M + customer to rectify this huge delay.

[minimin3r]

You obviously forgot that you would tell people further instructions on how to transfer their shares from Bitfunder.  This was 2 days ago.  Lose.

  /\
  ||
THIS!!!

[navitatl]

Please update us Will on what HashFast is doing for it's $2M + customer to rectify this huge delay.

lol

[Bargraphics]

In all honesty, if it was somehow possible to get a refund (Next to zero chance).

IceDrill should just buy the rest of the November KnC Jupiters lol

[crumbs]

In all honesty, if it was somehow possible to get a refund (Next to zero chance).

IceDrill should just buy the rest of the November KnC Jupiters lol

Bar, always a kind word for the grieving and the downtrodden.
*I don't think the KNC deal would work out, there was talk about providing hot water to an apartment complex or some such delirium.  They'd have to toss all the heatpipe coolers

[Dexter770221]

I told you that news will be another month of delay... LOL...
But IceDrill position isn't changed when we will take BTC price for consideration and reinvesting. Hashrate will be 3 times more than October 20  but also price of BTC, so IceDrill will be able to buy same amount of hardware and grow with the same speed.

[SeBTC]

Will & Ludvig,

As part of the IceDrill management team, could you offer your perspectives on how the continuing delays from Hashfast impacts IceDrill, the previous timeplan and approach? 

It is vital that in a time of crisis (share price now down to around 10% of its original value) that you have regular, clear and open lines of communication and are visibly demonstrating good governance.

An update from your side isn't an unreasonable ask.

Thanks

[Flashman]

IceDrill should just buy the rest of the November KnC Jupiters lol

Yes! Click here! https://www.kncminer.com/?resellerid=233


Though it seriously does make sense for anyone seeking hash at the minute, a gigahash in the hand is worth 10 in vaporware development hell.

[Bargraphics]

IceDrill should just buy the rest of the November KnC Jupiters lol

Though it seriously does make sense for anyone seeking hash at the minute, a gigahash in the hand is worth 10 in vaporware development hell.

Please stop advertising your Reseller link all over the forum in posts. Have some courtesy!

[Flashman]

Well I'm sorry you raised the subject then, since it only gets into threads where relevant to discussion, hardly indiscriminate spam.

[DeaDTerra]

A update from both and Willem, will come shortly.
I am meeting with the manager of the Datacenter today, to have a look at the space where we will be hosting the devices.
I will upload some pictures and some more details regarding those aspects.
//DeaDTerra

[kleeck]

ASICMiner, IceDrill competitor, made a huge investment in immersion cooling capable of 5000+ boards.  Their server location is in Hong Kong so the weather is warm.  I hope IceDrill can compete.

https://docs.google.com/document/d/1foqSvwX5elsVGG4VkowchCOLBBq7uxwe2qAkX_ltGPE/edit

You think that is your competition?

This is your competition: http://cointerra.com/cointerra-open-silicon-announce-tape-goldstrike1-asic/

[Minor Miner]

ASICMiner, IceDrill competitor, made a huge investment in immersion cooling capable of 5000+ boards.  Their server location is in Hong Kong so the weather is warm.  I hope IceDrill can compete.

https://docs.google.com/document/d/1foqSvwX5elsVGG4VkowchCOLBBq7uxwe2qAkX_ltGPE/edit

While it is interesting, it is not that scary.   The power draw required to scale those boards is not simple to acquire.    The product that Icedrill bought is far superior, when and if, it arrives and performs at the stated specs.

[Bargraphics]

ASICMiner, IceDrill competitor, made a huge investment in immersion cooling capable of 5000+ boards.  Their server location is in Hong Kong so the weather is warm.  I hope IceDrill can compete.

https://docs.google.com/document/d/1foqSvwX5elsVGG4VkowchCOLBBq7uxwe2qAkX_ltGPE/edit

Good Read,

AM will likely be #1 again soon if they can fit 50TH worth of GEN1 Boards into a Shipping Container and save 97% of even just cooling costs (If I read this correctly)

They are already working on their 40nm or 55nm technology which will likely at the very least double that capacity to 100TH (I figure they can probably get up to 4x more due to density) so 200TH per Shipping Container.

Some people have an eye for the future while others are stilling trying to figure out where they stand now.

[Minor Miner]

ASICMiner, IceDrill competitor, made a huge investment in immersion cooling capable of 5000+ boards.  Their server location is in Hong Kong so the weather is warm.  I hope IceDrill can compete.
https://docs.google.com/document/d/1foqSvwX5elsVGG4VkowchCOLBBq7uxwe2qAkX_ltGPE/edit

Good Read,
AM will likely be #1 again soon if they can fit 50TH worth of GEN1 Boards into a Shipping Container and save 97% of even just cooling costs (If I read this correctly)
They are already working on their 40nm or 55nm technology which will likely at the very least double that capacity to 100TH (I figure they can probably get up to 4x more due to density) so 200TH per Shipping Container.
Some people have an eye for the future while others are stilling trying to figure out where they stand now.

I think you misread.   It lowers their COOLING cost and power draw.   Think of what kind of power you need for 50TH of their blades.   And all the fun stuff you get to buy from APC to distribute it.   Think of how much those cool things cost that APC does not post prices on.   
There is a saying 'you can polish a turd, but it is still a piece of ..."      You cannot fix gen 1 blades, they will run a long time, but not make shareholders rich.

[Bargraphics]

ASICMiner, IceDrill competitor, made a huge investment in immersion cooling capable of 5000+ boards.  Their server location is in Hong Kong so the weather is warm.  I hope IceDrill can compete.
https://docs.google.com/document/d/1foqSvwX5elsVGG4VkowchCOLBBq7uxwe2qAkX_ltGPE/edit

Good Read,
AM will likely be #1 again soon if they can fit 50TH worth of GEN1 Boards into a Shipping Container and save 97% of even just cooling costs (If I read this correctly)
They are already working on their 40nm or 55nm technology which will likely at the very least double that capacity to 100TH (I figure they can probably get up to 4x more due to density) so 200TH per Shipping Container.
Some people have an eye for the future while others are stilling trying to figure out where they stand now.

I think you misread.   It lowers their COOLING cost and power draw.   Think of what kind of power you need for 50TH of their blades.   And all the fun stuff you get to buy from APC to distribute it.   Think of how much those cool things cost that APC does not post prices on.  
There is a saying 'you can polish a turd, but it is still a piece of ..."      You cannot fix gen 1 blades, they will run a long time, but not make shareholders rich.

While this is an IceDrill thread so I won't be replying to AM talk anymore after this,

Power consumption costs are next to nothing where FC has these hosted.
That also being said, Power Consumption doesn't even come into play until around 5B Difficulty I believe.
And then once more, by that time their Gen2 will be out and if Bitfury can get <1W/GH at 55nm and FC is going to 40nm, if they did a full custom then they won't need to worry about power consumption for much much longer than that.


Not to mention when you are the manufacturer and have a basically endless supply of these boards/chips you can underclock them and save on power if that becomes an issue.

Again look at the future, not now.

[Minor Miner]

 I hope IceDrill can compete.

Good Read,
AM will likely be #1 again soon if they can fit 50TH worth of GEN1 Boards into a Shipping Container and save 97% of even just cooling costs (If I read this correctly)

I think you misread.   It lowers their COOLING cost and power draw.

While this is an IceDrill thread so I won't be replying to AM talk anymore after this,
Power consumption costs are next to nothing where FC has these hosted.

There is no derailing.  Someone posted they "hoped" icedrill could compete.  I corrected their and your errors in reading.   And the last FYI, electricity in china for industrial use is MORE than most US houses pay.   It is only slightly better in HK but it is still 15-18 USA cents per kWh.   So, your last post is also incorrect.  And, it is NOT easy to get more electricity, there is a long process to apply and get govt approval.
So, just clearing up some FUD.