Bitcoin Forum
October 23, 2019, 11:43:01 AM *
News: 10th anniversary art contest
 
   Home   Help Search Login Register More  

Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

Pages: « 1 ... 976 977 978 979 980 981 982 983 984 985 986 987 988 989 990 991 992 993 994 995 996 997 998 999 1000 1001 1002 1003 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 [1026] 1027 1028 1029 1030 1031 1032 1033 1034 1035 1036 1037 1038 1039 1040 1041 1042 1043 1044 1045 1046 1047 1048 1049 1050 1051 1052 1053 1054 1055 1056 1057 1058 1059 1060 1061 1062 1063 1064 1065 1066 1067 1068 1069 1070 1071 1072 1073 1074 1075 1076 ... 1348 »
  Print  
Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3900017 times)
friedcat
Donator
Legendary
*
Offline Offline

Activity: 848
Merit: 1001



View Profile
June 05, 2014, 01:46:38 PM
 #20501

Brief Answers to Shareholder Questions

First of all, we would like to explain the situation we had in this May. The sales of chips mainly happened before May, while the ramp-up speed of chip sales slowed down mainly because of the lack of flexible whole-device solutions (having features of easy transportation, widely available components, etc) from our customers (device producers). As dedicated projects on improving the design of BE200-based devices we believe we will see much better sales because the room for hash rate growth is still huge and our cost in terms of $/G is highly competitive.

The other point we would like to address is that we are not cooperating with any mining device producers other than in the forms of simple buyer-seller relationship. Nor we hold shares of any other device producers. Our pricing strategy was discussed in the board before, which targets low margin large quantity instead of high margin small quantity because: 1) If both device producers and miners can have real profit after risk premium we will develop reliable consumer of chips in the long time. 2) It alleviates the problem of many potential purchasers waste time waiting for future price adjustments. 3) Higher quantity of orders in this generation leads to much more support from the fab with respect to all future generations of chips.

1) On the Balance Sheet, approximately how many chips does the current Inventory (Products + Materials + Masks) represent?
A little less than 60P of wafers, most of which are on their final stages of production. The materials consist mainly of lead frames for packaging. The mask is re-usable for years if there are continuing demands for the corresponding wafers.

2) How many months of inventory do you estimate that represents?
Depending on the Bitcoin price. Under this price we expect it to be 1-1.5.

3) On the Cash Flow there was significant expenses for gen3 production (~6mil USD). Does that represent the bulk of gen3 expenses, or are the expenses for gen3 going to continue (additional wafer batches ordered, etc.)?
It represent the order we already placed and paid for. There still are forecast plans for June we haven't paid for. They may be cancelled or delayed to later months according to how fast customers can turn Bitcoin chips to hashing power.

4) When will dividends start, and how frequently will they occur?
When the cash-flow becomes positive. After we decide to put significant quantity of chips on ASICMiner owned farms it should be per week. Before that, per month.

5) What is the status of gen 3.1 (shipping to customers, I think?)? How much does it help with energy usage -- do we have final chip performance numbers yet?
All shipped chips are gen 3.0 ones. What we had chosen for 3.1 helps with energy usage at 10% range and has some performance degrades. The final chip performance number is about 0.7W/G at 0.78V and 320MHz. Below that voltage we have less power draw and less speed.

6) What is the progress on gen4?
It is 28nm and has two major improvements: the first one is to fix the design errors we had with 40nm (which made our silicon data two times worse than simulated data). We believe that 0.35W/G at rated speed of 400MHz would be achievable in 40nm if no mistakes were made before. The second one is the technology improvement from 40nm to 28nm in terms of density, speed and power.

We are on the stage of evaluating the final design choices by running the physical design flow on different settings.

7) What is the status of self mining? What is the rollout schedule for the data centers?

8 ) What is the status of franchising partners? When can we expect to see income from them?
We will report the more detailed status to the board first. The short answer is that deploying and financing is easy while getting cheap electricity and proper device solution takes time. When we have farms running we can update the related information with real time hash rate.

9) Can you please clarify this sentence from 21st April : "The dividend schedule will be aggressive, as AM will not require large sums of retained capital." < is this still actual, or meanwhile something changed?
It is still actual. The condition in May is not a part of the plan. When we were forecasted permissively about this summer's production power of the fab, we ordered as many wafers as we could to prevent the bottleneck with wafer production.

10) What is the average selling price of AM gen3 chips (price per Gh/s)?
About 0.5$/G for sold chips.

11) What is that ~4M CNY in financial report/expenses at exchange?
Exchanged to USD.

12) What is the cash flow ratio between the amount of Chips Fabricated and the percentage of the batch that is dedicated to cost.
There are no orders dedicated to cost in the short time. So it's 1:0.

13) What is the Break Even Point of this batch of Chips?
Although the cost of making could be estimated by companies with experience on fabricating chips of high-end technology nodes, we
would rather retain the accurate price per chip from the public.

14) What is the estimated conversion time from chip sales to dividends?
The conversion time itself is fast and should not be the main stagnation of the time frame.

15) Will the funds from future Gen 3 chips be used to fund Gen 4 chips or distributed as a dividend, and what relative percentage of income will be retained for Gen 4?
Both. 1/3 as forecasted.

16) Previously our Asicminer farm was mining bitcoins and distributing a weekly dividend, will Asicminer update its present hash rate in the mining farms to account for current difficulty changes and to procure a secondary supply of Bitcoins to adapt for rapid changes in Bitcoin prices?
Yes. But that should be when we replace the farm with BE200 based devices, otherwise it is no point considering the 0.12-0.15$/kwh electricity price we get for our old farms.

17) What ever happened to the dedicated PR person and should AM make a website for distributors and for Chip inquiries?

18) Can we please get weekly, bi-weekly or monthly updates about progress, plans, sales etc. for preventing FUD in this thread?

19) Can you please communicate more clearly/frequently with shareholders?
When we are sure we get a good solution for the lack of communication we will announce.

20) What are the future plans and visions of Asicminer?
There will be at least two generations ahead. If future Bitcoin market cap allows there can be more. As we are keeping the chip design capability to grow with state-of-the-art technology as well as good channels with fabrication we can be flexible in terms of business mode be it chip-based or device-based.

1571830981
Hero Member
*
Offline Offline

Posts: 1571830981

View Profile Personal Message (Offline)

Ignore
1571830981
Reply with quote  #2

1571830981
Report to moderator
The Bitcoin Forum is turning 10 years old! Join the community in sharing and exploring the notable posts made over the years.
teek
Hero Member
*****
Offline Offline

Activity: 664
Merit: 500


ASICMINER Official Canadian Distributor


View Profile
June 05, 2014, 01:52:58 PM
 #20502

Brief Answers to Shareholder Questions

...

Thanks for these answers friedcat!!


hdbuck
Legendary
*
Offline Offline

Activity: 1274
Merit: 1000



View Profile
June 05, 2014, 01:59:34 PM
Last edit: June 05, 2014, 02:36:08 PM by hdbuck
 #20503

Brief Answers to Shareholder Questions

...

Thanks for these answers friedcat!!



Awesome. Thx FC! Never doubted you Smiley

edit: LMAO actual network hashrate is about 80PH. AM already has 60PH of wafers in inventory (& not even considering june's batch)...
Who said there will be no doubling the hashrate??
FLOOOOD COMING Cheesy Grin



Franktank
Hero Member
*****
Offline Offline

Activity: 574
Merit: 500


For Science


View Profile WWW
June 05, 2014, 02:01:49 PM
 #20504

Thanks for these answers friedcat!!

+∞ on this!

Is it too soon to start speculating if Gen5 will be under 20nm?
bitcoin.newsfeed
Sr. Member
****
Offline Offline

Activity: 378
Merit: 250


View Profile
June 05, 2014, 02:03:16 PM
 #20505

Current Network Stats : Speed 81.60 PH/s

A little less than 60P of wafers, most of which are on their final stages of production.

Sweet.Mother.Of.God  Shocked

OK guys, there are our dividends, I told you ! Wink So far the best update ever, thank you Friedcat for taking the time, me personally, I am amazed by this.

... Question Everything, Believe Nothing ...
lan787
Member
**
Offline Offline

Activity: 106
Merit: 10


View Profile
June 05, 2014, 02:04:22 PM
 #20506

Dividends are expected to be next month then. Did I understand it correctly?
KarmaShark
Hero Member
*****
Offline Offline

Activity: 594
Merit: 507


Founder - Helium


View Profile WWW
June 05, 2014, 02:04:44 PM
 #20507

This, I can live with. Much appreciated FC.




████████
████████
████
████





████
████
████████
████████
     ▄▄████████▄▄
   ▄██████████████▄
 ▄██████████████████▄
██████▀▀▀▀▀█████▀▀▀▀▀█
██████     █████     █
██████     █████     █             ▄▄▄
██████     ▀▀▀▀▀     █        ███  ███
 ▀████                  ▄▄▄   ███  ▄▄▄ ▄▄▄  ▄▄▄ ▄▄▄ ▄▄▄  ▄▄
   ▀██     ▄▄▄▄▄      ▄█████▄ ███  ███ ███  ███ ████████████▄
     ▀     █████      ███▄▄██ ███  ███ ███  ███ ███ ▀███ ▀███
           ▀▀███      ███▄▄▄  ███▄ ███ ███▄████ ███  ███  ███
               ▀       ▀████▀  ▀██ ███ ▀███▀███ ███  ███  ███
                   ▀█
████████
████████
████
████





████
████
████████
████████
█  ████▀  █
█  ██▀▄█  █
█  ▀▄███  █
█  ████▀  █
██▀▄█
▀▄███
████▀
██▀▄█

▀▄███

█  ████▀  █

█  ██▀▄█  █

█  ▀▄███  █

█  █████  █
|
█  ████▀  █
█  ██▀▄█  █
█  ▀▄███  █
█  ████▀  █
██▀▄█
▀▄███
████▀
██▀▄█

▀▄███

█  ████▀  █

█  ██▀▄█  █

█  ▀▄███  █

█  █████  █
minerpumpkin
Hero Member
*****
Offline Offline

Activity: 686
Merit: 500


A pumpkin mines 27 hours a night


View Profile
June 05, 2014, 02:06:30 PM
 #20508

Okay, umm... Why aren't that many people buying? Doubts that this is good news?  Undecided

I should have gotten into Bitcoin back in 1992...
KarmaShark
Hero Member
*****
Offline Offline

Activity: 594
Merit: 507


Founder - Helium


View Profile WWW
June 05, 2014, 02:08:47 PM
 #20509

Okay, umm... Why aren't that many people buying? Doubts that this is good news?  Undecided


Some are still waking up, I predict. Should be a nice surprise to wake up to given the last few weeks. Minerpumpkin, any chance you want to take a shot at speculating on some numbers now that FC has filled us in on some of the variables? Should be able to give us a cleaner looking crystal ball.

████████
████████
████
████





████
████
████████
████████
     ▄▄████████▄▄
   ▄██████████████▄
 ▄██████████████████▄
██████▀▀▀▀▀█████▀▀▀▀▀█
██████     █████     █
██████     █████     █             ▄▄▄
██████     ▀▀▀▀▀     █        ███  ███
 ▀████                  ▄▄▄   ███  ▄▄▄ ▄▄▄  ▄▄▄ ▄▄▄ ▄▄▄  ▄▄
   ▀██     ▄▄▄▄▄      ▄█████▄ ███  ███ ███  ███ ████████████▄
     ▀     █████      ███▄▄██ ███  ███ ███  ███ ███ ▀███ ▀███
           ▀▀███      ███▄▄▄  ███▄ ███ ███▄████ ███  ███  ███
               ▀       ▀████▀  ▀██ ███ ▀███▀███ ███  ███  ███
                   ▀█
████████
████████
████
████





████
████
████████
████████
█  ████▀  █
█  ██▀▄█  █
█  ▀▄███  █
█  ████▀  █
██▀▄█
▀▄███
████▀
██▀▄█

▀▄███

█  ████▀  █

█  ██▀▄█  █

█  ▀▄███  █

█  █████  █
|
█  ████▀  █
█  ██▀▄█  █
█  ▀▄███  █
█  ████▀  █
██▀▄█
▀▄███
████▀
██▀▄█

▀▄███

█  ████▀  █

█  ██▀▄█  █

█  ▀▄███  █

█  █████  █
szmarco
Hero Member
*****
Offline Offline

Activity: 574
Merit: 500



View Profile
June 05, 2014, 02:10:12 PM
 #20510

Yes,We love you FC. But we are bankrupted.
jimmothy
Hero Member
*****
Offline Offline

Activity: 770
Merit: 500



View Profile
June 05, 2014, 02:11:28 PM
 #20511

Current Network Stats : Speed 81.60 PH/s

A little less than 60P of wafers, most of which are on their final stages of production.

Sweet.Mother.Of.God  Shocked

OK guys, there are our dividends, I told you ! Wink So far the best update ever, thank you Friedcat for taking the time, me personally, I am amazed by this.

That can't be right... How could we possibly have so much PH??

I was guessing ~20PH.
Ozziecoin
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250


View Profile WWW
June 05, 2014, 02:12:39 PM
 #20512

Okay, umm... Why aren't that many people buying? Doubts that this is good news?  Undecided
People too short term cash focused.  Wall St types. Also, they don't understand the report. LOL.

Non-technical coin. Use OZC to intro coins to everyday aussies: http://ozziecoin.com
arousedrhino
Sr. Member
****
Offline Offline

Activity: 347
Merit: 250


View Profile
June 05, 2014, 02:12:52 PM
 #20513

Thanks FC! Keep up the good work.
KS
Sr. Member
****
Offline Offline

Activity: 448
Merit: 250


View Profile
June 05, 2014, 02:13:03 PM
 #20514

First I got to read from Jesus, now even FC is posting. Wow, what a day Grin

“In Putin’s Russia bitcoin exchanges you.” - http://www.coindesk.com/ceo-bitcoin-officially-bans-china/
List of major BTC scams https://bitcointalk.org/index.php?topic=576337
Bitstamp "no transfer" banks/countries list: https://bitcointalk.org/index.php?topic=270716.0
binaryFate
Legendary
*
Offline Offline

Activity: 1400
Merit: 1001


Still wild and free


View Profile
June 05, 2014, 02:13:47 PM
 #20515

A little less than 60P of wafers, most of which are on their final stages of production.

Lemme rephrase that:

A little less than 60% of the current global hashrate, most of which are on their final stages of production.

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
KarmaShark
Hero Member
*****
Offline Offline

Activity: 594
Merit: 507


Founder - Helium


View Profile WWW
June 05, 2014, 02:14:30 PM
 #20516

Current Network Stats : Speed 81.60 PH/s

A little less than 60P of wafers, most of which are on their final stages of production.

Sweet.Mother.Of.God  Shocked

OK guys, there are our dividends, I told you ! Wink So far the best update ever, thank you Friedcat for taking the time, me personally, I am amazed by this.

That can't be right... How could we possibly have so much PH??

I was guessing ~20PH.


I missed this in the update from him. I too was expecting 20-25PH total. I wouldn't mind having a more detailed explanation so it makes sense. Perhaps this is yet another case of the FC's panache for under-promising and over-delivering?

████████
████████
████
████





████
████
████████
████████
     ▄▄████████▄▄
   ▄██████████████▄
 ▄██████████████████▄
██████▀▀▀▀▀█████▀▀▀▀▀█
██████     █████     █
██████     █████     █             ▄▄▄
██████     ▀▀▀▀▀     █        ███  ███
 ▀████                  ▄▄▄   ███  ▄▄▄ ▄▄▄  ▄▄▄ ▄▄▄ ▄▄▄  ▄▄
   ▀██     ▄▄▄▄▄      ▄█████▄ ███  ███ ███  ███ ████████████▄
     ▀     █████      ███▄▄██ ███  ███ ███  ███ ███ ▀███ ▀███
           ▀▀███      ███▄▄▄  ███▄ ███ ███▄████ ███  ███  ███
               ▀       ▀████▀  ▀██ ███ ▀███▀███ ███  ███  ███
                   ▀█
████████
████████
████
████





████
████
████████
████████
█  ████▀  █
█  ██▀▄█  █
█  ▀▄███  █
█  ████▀  █
██▀▄█
▀▄███
████▀
██▀▄█

▀▄███

█  ████▀  █

█  ██▀▄█  █

█  ▀▄███  █

█  █████  █
|
█  ████▀  █
█  ██▀▄█  █
█  ▀▄███  █
█  ████▀  █
██▀▄█
▀▄███
████▀
██▀▄█

▀▄███

█  ████▀  █

█  ██▀▄█  █

█  ▀▄███  █

█  █████  █
cs54
Member
**
Offline Offline

Activity: 62
Merit: 10


View Profile
June 05, 2014, 02:15:33 PM
 #20517

Yes,We love you FC. But we are bankrupted.
Are we reading the same update?  Huh  

Time to back up the truck Tongue

KarmaShark
Hero Member
*****
Offline Offline

Activity: 594
Merit: 507


Founder - Helium


View Profile WWW
June 05, 2014, 02:18:00 PM
 #20518

Yes,We love you FC. But we are bankrupted.
Are we reading the same update?  Huh  

Time to back up the truck Tongue




This is why having liquid BTC on HL waiting for moments of awesomeness such as this is vital. By the time coin makes it over the price will be higher, that is for sure.

████████
████████
████
████





████
████
████████
████████
     ▄▄████████▄▄
   ▄██████████████▄
 ▄██████████████████▄
██████▀▀▀▀▀█████▀▀▀▀▀█
██████     █████     █
██████     █████     █             ▄▄▄
██████     ▀▀▀▀▀     █        ███  ███
 ▀████                  ▄▄▄   ███  ▄▄▄ ▄▄▄  ▄▄▄ ▄▄▄ ▄▄▄  ▄▄
   ▀██     ▄▄▄▄▄      ▄█████▄ ███  ███ ███  ███ ████████████▄
     ▀     █████      ███▄▄██ ███  ███ ███  ███ ███ ▀███ ▀███
           ▀▀███      ███▄▄▄  ███▄ ███ ███▄████ ███  ███  ███
               ▀       ▀████▀  ▀██ ███ ▀███▀███ ███  ███  ███
                   ▀█
████████
████████
████
████





████
████
████████
████████
█  ████▀  █
█  ██▀▄█  █
█  ▀▄███  █
█  ████▀  █
██▀▄█
▀▄███
████▀
██▀▄█

▀▄███

█  ████▀  █

█  ██▀▄█  █

█  ▀▄███  █

█  █████  █
|
█  ████▀  █
█  ██▀▄█  █
█  ▀▄███  █
█  ████▀  █
██▀▄█
▀▄███
████▀
██▀▄█

▀▄███

█  ████▀  █

█  ██▀▄█  █

█  ▀▄███  █

█  █████  █
TradeFortress 🏕
VIP
Legendary
*
Offline Offline

Activity: 1176
Merit: 1023


View Profile
June 05, 2014, 02:18:33 PM
 #20519

Thanks for the answers Smiley 60PH!
TradeFortress 🏕
VIP
Legendary
*
Offline Offline

Activity: 1176
Merit: 1023


View Profile
June 05, 2014, 02:18:56 PM
 #20520

Also, how long are direct share transfers expected to take?
Pages: « 1 ... 976 977 978 979 980 981 982 983 984 985 986 987 988 989 990 991 992 993 994 995 996 997 998 999 1000 1001 1002 1003 1004 1005 1006 1007 1008 1009 1010 1011 1012 1013 1014 1015 1016 1017 1018 1019 1020 1021 1022 1023 1024 1025 [1026] 1027 1028 1029 1030 1031 1032 1033 1034 1035 1036 1037 1038 1039 1040 1041 1042 1043 1044 1045 1046 1047 1048 1049 1050 1051 1052 1053 1054 1055 1056 1057 1058 1059 1060 1061 1062 1063 1064 1065 1066 1067 1068 1069 1070 1071 1072 1073 1074 1075 1076 ... 1348 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!