Bitmain E3 Ethash Miner ASIC (Batch 1 - Shipping:16-31 July. $800 USD)

[gameboy366]

Now that's the same power required by my 80 Mh/s miner but more than a double of this hash rate. Seems like a game over for my GPU miners.

Time to make a few gaming rigs out of them and then sell, then maybe buy off these ASICs.

Re-read what you just wrote.  Especially the part where you said,"Time to make a few gaming rigs out of them and then sell". Really pay attention to this. Study the words. Maybe you will find a reason why NOT to buy this crap!!

ROFL !!!  Bitmain's economy model in a nutshell.

[QuintLeo]

LIMIT was 5 per customer Now it's sold out.

Instant Buy button was ACTIVE a few minutes ago when I checked.

It does NOT appear to be sold out - but it's possible I checked right after someone canceled or "failed to pay in time" on an order.

[leowonderful]

https://gyazo.com/9a8465b6b6cf34ad47f0a44e9f8d5243

I can also confirm the E3 is still up for purchase as of 4:18PM EST. Seems like the E3 has been going in and out of stock recently for whatever reason. They likely don't have many left and cancelling is going on like you said, or Bitmain are increasing available stock for E3 on their website.

[alikait]

https://gyazo.com/9a8465b6b6cf34ad47f0a44e9f8d5243

I can also confirm the E3 is still up for purchase as of 4:18PM EST. Seems like the E3 has been going in and out of stock recently for whatever reason. They likely don't have many left and cancelling is going on like you said, or Bitmain are increasing available stock for E3 on their website.

Or they are taking a page out of apple's playbook and selling out artificially to create demand...

[Searing]

https://gyazo.com/9a8465b6b6cf34ad47f0a44e9f8d5243

I can also confirm the E3 is still up for purchase as of 4:18PM EST. Seems like the E3 has been going in and out of stock recently for whatever reason. They likely don't have many left, or Bitmain are increasing available stock for E3 on their website.

Debating getting one ...but then again my fuzzy math (a bit over) 50% to IRS anyway and 25% equip deduction in real cash applied to this years taxes (which I will have more

then enough for)

the risk is $225 above electric per unit....and they make what $4 a day maybe...sheesh..this is depressing..

so again my risk with my 'usual' set aside for the tax man... of 50% to the IRS and the state tax man (again a bit high with a 'cush') ..and that 25% equipment deduction

tempting price for a 'doorstop'...at again my tax angles and equip depreciation and of course the fact I'm mining more than a 2 dozen asic's (of many flavors)

as to newbies WITHOUT any large mining (my boat) or etc....my risk is like (with shipping/fees/etc) about 3 out of 4 it WILL work...your risk with REAL from the Job Income

and NO mining income to offset and IF you make enough for the 25% off taxes paid...is around 3 out of 4 of NOT working out...


also, this will only work for me at a certain level of mining income (which this year I've passed already...and of course crypto dumps and/for my capital gains etc)...

IF mining goes bye bye...my angles go away too...(back to hobby mining and heating the basement next winter)

thus I"M NOT SURE if it is worth getting for me!!...so only spend what you can afford....and keep that in mind when you read my posts on equipment

you reach a certain level of equipment and 'being stupid' has fewer consequences...then when I had 2 ASIC's in the basement...

anyway, still on the fence...likely they will be sold out by the time I get over pondering this...

stalling as a strategy can also be considered a 'wise' long-term strategy....but damn, hedging on what the heck prices for crypto are going to be ...is daunting...lately



brad

[ciciteng]

With current difficulty, this Bitmain Garbage can only mine for a round $4 a day. Imagine all the batches are come a live and then difficulty sky rocketed way higher.
Both this ASIC miner and GPU have to say good bye to ETH.
Btw, are you sure that this is the best Bitmain can do? I somehow have intuition that they have more powerful hashing board to mine ETH under their wrap still. Way more powerful that this garbage.

[Sandal_Hat]

What is up with everyone in this thread acting like ETH is the only mineable coin?  There are a shitload of other algos out there.  Unless you are using old AMD cards, mining ETH hasn't been the most profitable coin to mine in almost a year.  Blows my mind how people act like the sky is falling and its the end of mining because Bitmain is releasing an "ASIC" that is underpowered and overpriced and not even available for 3 months.

What is up with you and your head in the clouds not realizing that ETH is the main source of income of GPUs both directly and indirectly. Yes, its not the most profitable coin to mine but its what FARMS mine for a steady source of income. If ETH tanks all those mining farms will eat up your little GPU rigs and nothing will be profitable. You are a little fish who is lost in a big sea of miners.

There are other coins that are at any given time as profitable or more profitable than ETH. I stopped mining ETH a long time ago. The writing has been on the wall that ETH mining is over for a long time between threats of Asics and Proof of Stake forks being threatened for a long time.  

What he is telling you is that the Farms will turn to mine your now profitable coins, hashrate will explode and profit will be peanuts.

So its not that there are other profitable coins out there, of course there are, its that if ETH rigs move to other coins then those coins profit will fall drastically.

Maybe so, but that is mining. Plus there are lots of other coins and I don't see the hashrate all moving to one coin. There are enough to spread the hashrate among the other coins. Plus a lot of miners will just sell their rigs and get out of mining, reducing the overall hashrate on all coins.

Very untrue, I made a calculation a while back so numbers are a bit off but it paints a (dark) picture:
If we simplify all GPU's to the hashrate of a GTX1070 (wrong, I know, but just for creating an estimation) then;
-There's about 9.5 million GPU's mining in the world of which
-~8 million are mining ETH
-~1 million are mining ZCash
-~0.36 million are mining ZCL
-~0.33 million are mining ETC
and it quickly goes down from there. This means that ~85% of the GPU's that are mining worldwide are being used to mine Ethash.

When profitability goes down as difficulty rises, more and more mines will look for new coins to mine, there's simply not enough coins that have enough liquidity and perceived market value to keep GPU mining profitable. Lots of mines will go bust, some that have very low power cost and overhead will stay profitable for a while. Expect lots of second hand GPU's soon.

The numbers are from 2 months ago but they are probably a better representation as Bitmain keeps adding hashrate on Ethash, which skews the numbers more and more.

Hard fork? What if they are indeed using gpu chips? There no solution except for cpu-only algo's but that gets destroyed by people abusing AWS instances and botnets etc.

Thats wat I thought as well. I dont know where u get the 85% number but I am aware that ETH is the main. The difficulty of other GPU algo will climb through the roof once the other GPUs switch there.

To add. New GPUs will be cheap and wont even sell much. Gamers will be able to buy cheap GPU in the secondary markets.

I gave u merit for good info on the numbers.

[gameboy366]

LIMIT was 5 per customer Now it's sold out.

Instant Buy button was ACTIVE a few minutes ago when I checked.

It does NOT appear to be sold out - but it's possible I checked right after someone canceled or "failed to pay in time" on an order.

Maybe they are just playing the supply and demand game. Also as others have stated it is going in and out of stock recently.

[gameboy366]

With current difficulty, this Bitmain Garbage can only mine for a round $4 a day. Imagine all the batches are come a live and then difficulty sky rocketed way higher.
Both this ASIC miner and GPU have to say good bye to ETH.
Btw, are you sure that this is the best Bitmain can do? I somehow have intuition that they have more powerful hashing board to mine ETH under their wrap still. Way more powerful that this garbage.

This garbage has officially killed ETH gpu mining for now. Until ETh dev comes up with something or AMD or Nvidia develops a new gpu specifically designed for mining.
This garbage is still very low cost and very scalable. Good for mining farms. So it will increase difficulty on all the coins as big gpu farms will switch coins.

[Sandal_Hat]

I am surprised this isnt sold out. Have people finally understood the risks of mining and the fear of difficulty rising and the overcapacity in mining?


I warned about this long ago https://bitcointalk.org/index.php?topic=2781009.msg28443347#msg28443347   in January 2018 that it isnt sustainable for so much mining equipment capacity to be produced. This much equipment is being produced on the assumption price of coins will keep skyrocketing to support the manufacturing of so much equipment. It was not sustainable. I got flamed instead and the thread is locked now.


So, more people now understand that crypto isnt a magic lamp that can give out an unlimited amount of money? There are only so many coins released over a period of time, thus, only so much can be earned.


I still see some posts saying GPU mining will never die. Yep, it wont die but it is gonna go down to shiat and u probably wont be breaking even with a recent GPU rig. U could possible break even with this asic though. Depends.

[Spill]

This must be bitmain's smokescreen, for Vitalik Buterin, to fool him into thinking they don't have the F3 1.5 g/h miners,  since bitmain announced they were making these e3's last year.   This in my mind almost guarantee's that bitmain is mining with the F3's and selling these to clear out there inventory.  Good luck with anyone buying these 1 year old miners.    Bitmain mines with there top gear and then sells off the old gear.  As in the case of the Bitmain selling
off all there s9's,  meanwhile every one wonders why there s9's have so many problems a few months after they get them. I'm pretty sure if bitmain is a 3 billion dollar company they are mining with the 12nm miners already on bitcoin.

[Metroid]

in july this thing will be mining 5 times less eth than now hehe, nvidia volta is coming soon june/july.

[64dimensions]

Some numbers:

Assume we both have the same power cost.

380 cards person) 12 ASUS 380 cards, 200 Mh/s,  1650W. Power= 0.10 USD As of today from WTM per day:  $6 revenue, $2 profit. Paid off


E3 person) Say an E3 is $800 plus say $200 for a power supply and everything else, so $1000:  $5.40 revenue, $3.45 profit

For this back-of-the-envelope figuring, assume the difficulty is fixed. E3 person will take about 290 days to payoff the miner. After 290 days the 380 cards are ahead by $580.

If the numbers are correct, it will take another 400 days till the E3 surpasses the 380 setup in profit.


So if the eth difficulty increases, it will drive out the very old stuff and extend the time it takes to for the E3 to breakeven.  People who have been mining ETH for a long time have a substantial advantage, because their rigs cost has been partially or all captured. New miners are essentially betting that the difficulty will go down or the price of eth goes up.

Another point is the residual value. At the end of the year working 380's might be worth $50 + the SSD say $50 + the Win Pro 10 copy of windows say $50 + two PS. So the 380 rigs have a residual value of around of say $800 - $1000 and an Ebay net of around $500.

[leowonderful]

https://gyazo.com/9a8465b6b6cf34ad47f0a44e9f8d5243

I can also confirm the E3 is still up for purchase as of 4:18PM EST. Seems like the E3 has been going in and out of stock recently for whatever reason. They likely don't have many left, or Bitmain are increasing available stock for E3 on their website.

Debating getting one ...but then again my fuzzy math (a bit over) 50% to IRS anyway and 25% equip deduction in real cash applied to this years taxes (which I will have more

then enough for)

the risk is $225 above electric per unit....and they make what $4 a day maybe...sheesh..this is depressing..

so again my risk with my 'usual' set aside for the tax man... of 50% to the IRS and the state tax man (again a bit high with a 'cush') ..and that 25% equipment deduction

tempting price for a 'doorstop'...at again my tax angles and equip depreciation and of course the fact I'm mining more than a 2 dozen asic's (of many flavors)

as to newbies WITHOUT any large mining (my boat) or etc....my risk is like (with shipping/fees/etc) about 3 out of 4 it WILL work...your risk with REAL from the Job Income

and NO mining income to offset and IF you make enough for the 25% off taxes paid...is around 3 out of 4 of NOT working out...


also, this will only work for me at a certain level of mining income (which this year I've passed already...and of course crypto dumps and/for my capital gains etc)...

IF mining goes bye bye...my angles go away too...(back to hobby mining and heating the basement next winter)

thus I"M NOT SURE if it is worth getting for me!!...so only spend what you can afford....and keep that in mind when you read my posts on equipment

you reach a certain level of equipment and 'being stupid' has fewer consequences...then when I had 2 ASIC's in the basement...

anyway, still on the fence...likely they will be sold out by the time I get over pondering this...

stalling as a strategy can also be considered a 'wise' long-term strategy....but damn, hedging on what the heck prices for crypto are going to be ...is daunting...lately



brad

The situation with buying miners direct right now doesn't seem as bad as it was before the prices of crypto took a temporary dive a few weeks back, so you may still have some time before these things sell out to make a decision. I'm personally not taking the gamble on these E3s for multiple reasons though the price seems attractive.

I'm glad people aren't rushing headfirst into buying miners anymore, though, which could explain why these aren't selling out instantly like most miners were previously before crypto took a temporary pluge. Nice to see people are actually doing some research on profitability now as the figures don't look too great, especially for a pre-order that will take many months to arrive. Buying this is just a gamble more than anything.

[CCRiggz]

It seems like these new E3 can be upgraded once ETH will fork and still mine it. I heard this from "insiders"..

Can you provide more information? Is it using and FPGA versus ASIC? Is it really GPU cores inside?

How exactly could they upgrade it after the fact?

[stash2coin]

It seems like these new E3 can be upgraded once ETH will fork and still mine it. I heard this from "insiders"..

Can you provide more information? Is it using and FPGA versus ASIC? Is it really GPU cores inside?

How exactly could they upgrade it after the fact?

If you look at their main site they have AI research chip, could be that the chips in E3 are modified version of these chips. Also they promise better speed when the units start to ship, firmware upgrade???

[RobbMines]

It seems like these new E3 can be upgraded once ETH will fork and still mine it. I heard this from "insiders"..

Can you provide more information? Is it using and FPGA versus ASIC? Is it really GPU cores inside?

How exactly could they upgrade it after the fact?

I've heard this rumor as well. FGPA + GPU cores is what's rumored, which (given the size) may be the case. If it's just a bunch of DDR3, then chances are it'll be worthless after a decision is made to brick them on Friday (because - let's be real, it will fork).

Problem is, FPGAs aren't always cheap. So unless Shitmain came up with something proprietary, I would consider this to be a rumor.

[spikyz]

Horrible ROI for a miner thats months away from release.

180 mh/s is barely 170$ a month. By the time they release it if prices dont go up that miner will be worthless. But yeah GPU mining is dead thats the cost of 2 rx 580

The thing is everyone is comparing it to the current (highly inflated) price of GPUs. If it wasn't for the run-up in GPU prices because something like this wasn't available last year those RX580's would probably be going for $150 each by now, so this would actually be more like the cost of 5 of them.

Sure you have the mobo and other stuff to add to the price, but then again that GPU based rig is more flexible in that it can mine other alogs, including new ones that may come out. Also, as others have pointed out, the GPU rig can be parted out and resold if need be, whereas the ASIC is just a paperweight.
 
So long-term I think this is actually great news, as it isn't quite the GPU killer everyone had feared. It beats out GPU rigs on price alone, but as I stated only because GPU prices are so over inflated right now. Once the E3 hits the market GPU prices will come back down to normal and probably become bargains. At that point I expect you can put together a 6x RX580 rig for closer to $1,100 by then, so it will be a even match considering the GPU rig will have other uses and resale value so worth the extra $300.

is everyone can confirm with me this will only be limited to ethash? if its actual inside is normal gpu, we cannot simply tweak it for other algo?

[stash2coin]

Lets make some more speculation judging from the photos this thing have at least 6 boards in it. According to the original rumor 3 chips per board . Lets take a look at the datasheet of their AI chip. https://archive.sophon.ai/sophon-prod/drive/BM1680_Datasheet%20V1.0.pdf , it states 41W under full load. If there are 18 chips in E3 miner. that makes 738W thats very close to 800W,  This year will be interesting 

[R0land]

I think the E3 uses 16 x BM1680 Neuralprcessing Chips and one Asic or FPGA for the controlling.

If the E3 has 6 cards, I must correct myself:
6 cards with 2 x BM1680 + 1 FPGA or ASIC each
That´s 12 x BM1680 + 6 x FPGA or ASIC.

Or 18 x BM1680 and one Asic or FPGA for the controlling, if Bitmain connect the BM1680 with each other.

Even Bitmain sell a card with 1 x BM1680 and FPGA since January. They announced a card with 2 x BM1680 and FPGA.