[ANN] Spondoolies-Tech - carrier grade, data center ready mining rigs

[Collider]

I agree, compensation can´t only be calculated by missing hashrate, as the power consumption has increased by 65% in the first batches compared to the "rock solid" estimates.

This needs to be considered when calculating compensation.

I hope Spondoolies gets additional chip sales soon, but it might take until the better-performing chips are in hand.

[Guy Corem]

I wonder how much they are deploying at a time.

BitFury rhythm is about 10-20MW every two months. The 25% three jumps ago was their 20MW Georgian DC.

[midyatspor]

And is there actually a reason compensation is being delayed to october? If I remember correct SPtech had enough private funding for each batch.

Why will customer funds be held hostage?

Perhaps SP Tech doesn't have the funds to refund customers now. Also, the venture capitalist/private funding people will get paid first most likely, these people make perhaps 500% on their investment so I would also guess that SP Tech paid these people from the Pre-Sale Funds.

Hope I am wrong

[Guy Corem]

Complete BS, both claims.

[Collider]

Perhaps SP Tech doesn't have the funds to refund customers now. Also, the venture capitalist/private funding people will get paid first most likely, these people make perhaps 500% on their investment so I would also guess that SP Tech paid these people from the Pre-Sale Funds.

Hope I am wrong

Typically, angel investors get paid after a certain amount of time according to a % of EBIT or revenue.

This period is almost never below 4 years.

Additionally, Angel investors typically profit from an exit scenario according to a percentage of their original funding.

They usually have no option to retrieve their funds before the agreed date but sometimes reserve the right to additional investments.

[Doff]

Gees... This seems bad, however I have to wonder how long this can be sustained. There are so many what ifs I guess.

I wonder how much they are deploying at a time.

BitFury rhythm is about 10-20MW every two months. The 25% three jumps ago was their 20MW Georgian DC.

[Guy Corem]

Gees... This seems bad, however I have to wonder how long this can be sustained. There are so many what ifs I guess.

I wonder how much they are deploying at a time.

BitFury rhythm is about 10-20MW every two months. The 25% three jumps ago was their 20MW Georgian DC.

Not so long. Their hardware is outdated. They wasted too much time playing with LightFury (scrypt 55nm ASIC).

List of recent failures:
- Still didn't TO their custom UMC 40nm effort (AFAIK, unconfirmed)
- Scrapped big 28nm ASIC on Thermals. They got burnt from big ASICs and keeping the small ASICs design approach.
- Scrapped 20nm custom ASIC effort. "Too complicated and takes too much time". Straight from the horse mouth.
- Starting again a fully custom 28nm ASIC

[frisco]

Complete BS, both claims.

Well then give us the real reason, it has been asked several times since yesterday and we haven't got any oficial reply.
Compensation with hashrate obviusly can only start in late august or september depending on the leftover chips you got in those batches, but money refund can start right now, maybe august orders comes in better shape so it seems logic to delay a bit those, but at least for the units deployed/sent it makes perfect sense to start the refunds asap.

[midyatspor]

Perhaps SP Tech doesn't have the funds to refund customers now. Also, the venture capitalist/private funding people will get paid first most likely, these people make perhaps 500% on their investment so I would also guess that SP Tech paid these people from the Pre-Sale Funds.

Hope I am wrong

Typically, angel investors get paid after a certain amount of time according to a % of EBIT or revenue.

This period is almost never below 4 years.

Additionally, Angel investors typically profit from an exit scenario according to a percentage of their original funding.

Bitcoin Mining Hardware Design Business is not Typical and I am sure you know that, 4 Years is very long time in this business, I am pretty confident that investors are getting paid but we will never know due NDA.

 

[Collider]

Bitfury´s internal cost for hardware deployment should be around 0.4$/GH.

Much of their deployed hardware is sold to big farms or deployed with some form of franchizing mechanism.

@Midyatspor

I highly doubt that any large amount of payments are due during their product launch and within their production period (that would be plain stupid and nobody would draft a contract like that).
Investors want the company to succeed, and not cripple them by making them pay while they still need funds to increase their cashflow.

[wpgdeez]

Complete BS, both claims.

So what is the reason for the delay on compensation then? You can stop the speculation right here and now with an honest answer.

[Guy Corem]

Well then give us the real reason, it has been asked several times since yesterday and we haven't got any oficial reply.

Already stated in the original message. We're concentrating on building, testing and shipping now.
We're are a very small team, stressed to the maximum. Especially with the current situation in Israel.
I won't discuss the matter further for now. We'll compensate per our promise.

Guy

[RoadStress]

Did something extraordinary happen to counteract all the bad news from spondoolies?

Shipping started!

[frisco]

As requested some stats from the first hours of working of the SP30


The other machine is a SP10, I would say that my unit is happily hashing at 4.4Th no more and no less.

[RealMalatesta]

Gees... This seems bad, however I have to wonder how long this can be sustained. There are so many what ifs I guess.

I wonder how much they are deploying at a time.

BitFury rhythm is about 10-20MW every two months. The 25% three jumps ago was their 20MW Georgian DC.

Not so long. Their hardware is outdated. They wasted too much time playing with LightFury (scrypt 55nm ASIC).

List of recent failures:
- Still didn't TO their custom UMC 40nm effort (AFAIK, unconfirmed)
- Scrapped big 28nm ASIC on Thermals. They got burnt from big ASICs and keeping the small ASICs design approach.
- Scrapped 20nm custom ASIC effort. "Too complicated and takes too much time". Straight from the horse mouth.
- Starting again a fully custom 28nm ASIC

Just by judging what HW is currently being sold (and bought!!) at crap-bay, I also think that a significant chunk of the current hashrate soon will just disappear because they realise that they only make a couple of bits with it... wonder if this will have any impact.

[montyfd]

Gees... This seems bad, however I have to wonder how long this can be sustained. There are so many what ifs I guess.

I wonder how much they are deploying at a time.

BitFury rhythm is about 10-20MW every two months. The 25% three jumps ago was their 20MW Georgian DC.

Not so long. Their hardware is outdated. They wasted too much time playing with LightFury (scrypt 55nm ASIC).

List of recent failures:
- Still didn't TO their custom UMC 40nm effort (AFAIK, unconfirmed)
- Scrapped big 28nm ASIC on Thermals. They got burnt from big ASICs and keeping the small ASICs design approach.
- Scrapped 20nm custom ASIC effort. "Too complicated and takes too much time". Straight from the horse mouth.
- Starting again a fully custom 28nm ASIC

Loool, you just failed yourself in a big way and still have a big mouth pointing at other companies.
Better care for your own company.... Never seen a company talking so much bad about others as you do. Thats not the way to do business.

[raskul]

Things happen in life that no-one can control and your whining and moaning, looking for someone to blame... does not endear you to me.
shit happens, get over it.

Ignoring the fact that someone (spondoolies-tech) actually has full control over the situation and significant amounts of bitching and moaning can lead to more reasonable compensation.

I do hope compensation is not only for $/gh. At 0.15 $/kwh each machine will use an extra ~$1500 per year in electricity.

And is there actually a reason compensation is being delayed to october? If I remember correct SPtech had enough private funding for each batch.

Why will customer funds be held hostage?

today remains a good day.

Did something extraordinary happen to counteract all the bad news from spondoolies?

Having a life outside of internet forums often helps, you should try it sometime.

[Mabsark]

I wonder how much they are deploying at a time.

BitFury rhythm is about 10-20MW every two months. The 25% three jumps ago was their 20MW Georgian DC.

Do you know for a fact it was them or are you guessing? AM have also been deploying their own gen 3 mine and plan to recapture their average hash rate from 2013.

Update

1. Due to the relatively lower interest from individual miners as well as OEM producers, the self mining has re-started from middle of July. We had gain access of cheap electricity and high power capacity. We hope to regain the average hashrate percentage similar to 2013 with this generation of chips.

2. The price rockminer gets is not the sales price. It's the premium of franchising. We gain the part of profits after the devices begin to generate revenue like the franchising of devices. The sales price of chips stay a relatively high margin because our option of building our own devices and sell/deploy is always wide open.

3. We announce the sales of our own devices. We would arrange an offline meeting in Shenzhen first to share more information. We will post the English version of it on the meetup sub-board.

[Guy Corem]

Gees... This seems bad, however I have to wonder how long this can be sustained. There are so many what ifs I guess.

I wonder how much they are deploying at a time.

BitFury rhythm is about 10-20MW every two months. The 25% three jumps ago was their 20MW Georgian DC.

Not so long. Their hardware is outdated. They wasted too much time playing with LightFury (scrypt 55nm ASIC).

List of recent failures:
- Still didn't TO their custom UMC 40nm effort (AFAIK, unconfirmed)
- Scrapped big 28nm ASIC on Thermals. They got burnt from big ASICs and keeping the small ASICs design approach.
- Scrapped 20nm custom ASIC effort. "Too complicated and takes too much time". Straight from the horse mouth.
- Starting again a fully custom 28nm ASIC

Loool, you just failed yourself in a big way and still have a big mouth pointing at other companies.
Better care for your own company.... Never seen a company talking so much bad about others as you do. Thats not the way to do business.

From all the ASIC companies, BitFury is the company I have most respect to. Good tech, usually very smart moves.
Self mining on a much larger scale than KNC, which I find very problematic.

BitFury is a good competition. They have 1.5 years head start on us, and daily revenues of $0.5M
We like the challenge.

Revealing some of the stuff going on behind the scene is bad ? I'm giving the customers more information, so they'll do an informed decision.

Indeed, we had a production issue. RockerBox will fulfill our expectations in October.

Going to sleep,
Guy

[jimmothy]

From all the ASIC companies, BitFury is the company I have most respect to. Good tech, usually very smart moves.

Sure bitfury has good tech but according to you it's "outdated" and failed 3 separate generations.

Revealing some of the stuff going on behind the scene is bad ? I'm giving the customers more information, so they'll do an informed decision.

Pretending to know what is going on behind the scenes is bad. You are giving your customers nothing more than a false sense of security.

You make it sound like bitfury is the only company deploying hardware in mass. Are you forgetting AM, Cointerra, 21e6, peernova, bitmain, avalon, knc, and a few other megamines which all have yet to be deployed?