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

[theMiracle]

^The cow gives milk over its lifetime, not all at once.  You'd be stuck buying the miners piecemeal, requiring long-term contracts with ASIC manufacturers to buy @ ~wholesale price.  It gets messy.

[Dice]

Hi Will,

How are the stabilization of chips going? I've been closely monitoring the ozcoin top 20 and i see we are slowly reducing the hashing power there? Is this a result of moving hashing power to a different pool/service (which one?) or are we experiencing some dreaded bad chips again?

Also more importantly we'd all like to know whats the status with HashFast, things are rather grim because of their delays, have any advancements made on this front?

Also you mentioned a week or more back that the faulty units were sent back to HashFast. Have new units been delivered to replace the faulty ones?

We'd all appreciate some more news.

[will]

Hi Will,

How are the stabilization of chips going? I've been closely monitoring the ozcoin top 20 and i see we are slowly reducing the hashing power there? Is this a result of moving hashing power to a different pool/service (which one?) or are we experiencing some dreaded bad chips again?

Also more importantly we'd all like to know whats the status with HashFast, things are rather grim because of their delays, have any advancements made on this front?

Also you mentioned a week or more back that the faulty units were sent back to HashFast. Have new units been delivered to replace the faulty ones?

We'd all appreciate some more news.

Hi

Stabilization and RMA is ongoing. Hashfast has been very accommodating with our requirements on both fronts.

We've currently in the middle of a solo mining test, using the new gbt cgminer upgrade work which we initiated (see: https://github.com/ckolivas/cgminer/commit/f113a25ff79a171240512b3791da1fb64f50b14c). We started early live testing on Thursday, and the test started in full on Saturday night (CET) and has been running for about 30.5 hours now. Block rewards are sent here:
https://blockchain.info/address/12ej4RUwoszmQoKYyFg6Ej27L82xhFS5Ao
(2 blocks solved at the time of this writing, both of which were found within 12h of the switch). We'll keep a close eye on everything over at least the next 72h and decide where to go from there.

As always, the minestate monitor (https://www.icedrill.io/minestate) is unaffected by pool/target switching.

We've left ~10Th @ ozcoin for the moment.  Just to be clear: Graet and Blaksmith have been a huge help throughout all of this stabilization work @ #cgminer-dev. The decision has nothing to do with "moving away from" and everything to do with "moving towards" the new target.

We started mining from a 2nd location as the current one is starting to approach its power/cooling limits, though we do have the option for limited (minimal setup cost) expansion there. New/alternate DC selection is ongoing and we're making good progress on that front. We'll be deploying a small hosting agreement (contract executed) into the new location over the coming days.

Will

[will]

I actually think someone with a vested interest should do it.    

There are good arguments for and against this sentiment. I (for one) think an open discussion/Q&A would be a refreshing additional communication-channel. It being conducted by an objective, informed, eloquent person like yourself could work. If it doesn't work, we can simply stop.

[paul3]

Did I miss any mining address?

[will]

Did I miss any mining address?

Nope, you got them all. Just ensure you follow the [change received/unspent output] addresses when doing a tally of the funds held (each address represents a separate wallet). You're about 32 BTC short for the total, according to my records (533.81535819 BTC).

[raskul]

On ozcoin pool was better. Three days passed and there is no block. went back to ozcoin pool.

you can't beat a good DGM pool - and Oz is a good DGM pool. that's the luck of the draw 

[-ck]

Block #3!

https://blockchain.info/tx/90e59ac1b03526180f6c476d1c7ca1d9bc9f1848597e58045f7e1186aa2521c4

[pedrog]

Block #3!

https://blockchain.info/tx/90e59ac1b03526180f6c476d1c7ca1d9bc9f1848597e58045f7e1186aa2521c4

Finally!

[-ck]

Block #3!

https://blockchain.info/tx/90e59ac1b03526180f6c476d1c7ca1d9bc9f1848597e58045f7e1186aa2521c4

Finally!

I don't know about "finally"; if there's only something like 150-180TH going solo, that's actually pretty decent luck. Variance can kill you if you have a block that takes 10x the current difficulty, and the first 2 blocks were definitely lucky. This latest one included some not insignificant transaction fees too.

Transaction Fees    0.11114335 BTC

[raskul]

Block #3!

https://blockchain.info/tx/90e59ac1b03526180f6c476d1c7ca1d9bc9f1848597e58045f7e1186aa2521c4

Finally!

I don't know about "finally"; if there's only something like 150-180TH going solo, that's actually pretty decent luck. Variance can kill you if you have a block that takes 10x the current difficulty, and the first 2 blocks were definitely lucky. This latest one included some not insignificant transaction fees too.

Transaction Fees    0.11114335 BTC

party all round then! we got a block on Oz too
lets stay friends - even if we have had a 'conscious uncoupling' 

[raskul]

one block for 8 days? Fuck it solo

no. 3 blocks in ~5 days

https://blockchain.info/address/12ej4RUwoszmQoKYyFg6Ej27L82xhFS5Ao

[Dexter770221]

Bigger mines switching to pool mining becuse of variance and no blocks in long period of time. I'm amazed that Icedrill is doing opposite.

[zebroid]

Bigger mines switching to pool mining becuse of variance and no blocks in long period of time. I'm amazed that Icedrill is doing opposite.

If you read further up they solo mining to test the new version of cgminer (the mining software) they got done.

[kleeck]

What is the current hash rate?

[22naru]

http://www.coindesk.com/court-grants-order-freeze-hashfasts-bitcoin-wallets/

...

[pedrog]

What is the current hash rate?

You can check here: https://www.icedrill.io/minestate

http://www.coindesk.com/court-grants-order-freeze-hashfasts-bitcoin-wallets/

...

Nice!

[pedrog]

250kW IceDrill Mine

Another prominent example of a commercial operator is the IceDrill Bitcoin mine. The investment
involved building "a secure and climate controlled mine-facility" including "build-out of computecenter/mine location" in Canada.20

The company has mining-devices from HashFast on back-order and additionally invested into further
hardware from Cointerra, ultimately leading to the same data center requirements outlined in above
data center example. IceDrill is effectively trying to host a large number of retail boxes that require
two separate power inputs in a data center environment that is not prepared for Bitcoin densities.

USD $285,000 was spent on the data center facility21 so far, with 120 mining devices22 deployed
bringing the total capacity to 144kW at the time of writing, and the cost to $1,979 per kW.

At: http://www.immersion-cooling.com/publications/Analysis_of_Large-Scale_Bitcoin_Mining_Operations.pdf

[will]

Bigger mines switching to pool mining becuse of variance and no blocks in long period of time. I'm amazed that Icedrill is doing opposite.

If you read further up they solo mining to test the new version of cgminer (the mining software) they got done.

I can confirm that we commissioned this work-stream as it is a big step into an exciting/new/important technical pathway for bitcoin mining, in our opinion. As a bonus, please feel free to decide: adjust PPS (and some variants thereof) by changing a few lines of (now open-source, tested: working) code, if you're a miner.

[zebroid]

This doesn't look good now!

Court Orders Freezing of Hashfast Bitcoin Wallets
https://coinreport.net/court-freezing-hashfast-bitcoin-wallets/