Weekly Update 2/5/2014
This last week has been very busy with our Project manager and engineers working with eASIC on our 28nm custom chip. We have receive the first results back and the chip is expected to run at 30 GH/s, we are working on improving this number. Also, we have received the quote on our PCIe board and our project manager and engineers are meeting with eASIC and our board engineers this week to keep our project on track. We are also meeting with UMC to finalize our account setup. We are also thinking about going to a 20nm custom chip and skipping the 28nm, if we can get it produced fast enough.
Ken - a few questions
1. does this projection mean that you will only be mining with the 55nm chips and not be selling them?
1a. seems like selling the chips directly provides a quicker and larger return, and if that return is then turned into more chips... (you see where I am going with this)
We will do a combination of sales and mining; however, it seems that mining in a place where the cost are low will give us the best return.
2. you have the hardware costs at $1,338,000. does this include boards, assembly, installation, etc (basically all the costs for producing a working miner), or just chips?
An estimate of all of the cost.
3. can we assume that you would be mining in a pool, or are there plans to solo mine?
3a. if you are going to solo mine, do you already have software/server/etc setup to be able to do this?
With this amount of hashing we will be solo mining. No we don't have it setup at this time.
4. you set the projection to start on May 1, 2014 for 1.292 PH. do you expect to have all the chips, boards, facility, etc up and running at the beginning of May 2014 for everything? Would June 2014 be "more" realistic date, or does it need to be pushed out further than that?
We will start getting our chips in the middle of April, so the deployment would be from April to June. I think the May projection is realistic, as I think the mining.thegenesisblock.com is about a month to conservitive.
5. you have the electricity cost in as $0.022. What are the other costs involved (initial startup costs, the monthly data center rental, etc)?
We have added to the chip cost an estimate for all the cost above. As we get closer to the April rollout we will have a better idea of the total cost and we will provide an update on those cost.
6. your projection shows essentially 1.7MW of power usage for those chips. that takes into account the chip power usage only. what are the additional projected power needs for all the other equipment?
At this time, we don't have a projection on the boards power; however, the chips consume >98% of the power.
7. not really a question - you left bitcoin price at 958 and the price rise at 10% monthly. I personally think that the numbers should reflect the current market and assume no change in BTC price. or have multiple "realities" were you run projections on $500 BTC, current price of BTC, and some higher priced BTC.
thanks.
Well, I think the projection is realistic, bitcoin went up 61X last year and I am only giving it a 10% per month raise. Go ahead and run your own projections.
Working as fast as I can on Crypto-Trade verification, we have a lot of moving parts in our business which is taking a lot of my time, but I do want to get all shareholders shares verified and moved to CT ASAP.
