All About BItcoin and Litecoin mining and other alternative crypto currencies
Now, if you are thinking that the situation with Alpha Technology and their Viper Scrypt ASCI miners still not shipping, what should you think about the situation MAT (Mining Asics Technologies). According to the new information released by the company they have received their first ASIC chips at the beginning of August and by the end of the month and early September they were already releasing videos of some of their products hashing. On the company’s website we’ve seen an estimated shipping date announced as 15.09.2014 for the smaller Scrypt ASIC miners and “estimated shipments Q3 of Year 2014″ for the first batch of devices from the more powerful units.
On 19.09.2014 MAT has released a news update stating that the after some delays the “shipping for our first customers will start on 26.09.2014″. On 08.10.2014 there was another news update saying that the company has already started shipping the previous week, however they have apparently found a software bug that they need to fix and are stopping the shipments meanwhile with a promise to maybe start shipping again next week. Now, why would they need to stop shipping if it is a software bug, it has been a while since all of the more serious ASIC crypto miners can be software (firmware) updated by the user. Furthermore how and why they find a software bug after a bit over a month of testing that they should have already been done since they got their first miners working. It all seems like they are buying some time as nobody has yet reported of receiving a miner from them, and if somebody did get a unit if it had a serious problem that needed manual intervention from MAT that would mean the device need to be sent back to them for a fix.
As you would expect from an ASIC manufacturer the communication with customers is lacking, we are used to seeing this, even though this is clearly not the right way to go and treat your customers that have paid you thousands up front. No wonder that people are not happy, but then again we are seeing a similar situation with other companies such as Alpha Technologies or even KnCMiner, not to mention BFL. Clearly if companies in this business want to keep their customers happy and returning for more they need to be more open and responsive to customer questions, not to mention that they should not give promises that they might not be able to keep. Keeping your customers in the dark, not keeping promises and delaying your hardware without a detailed and on time explanation is clearly not the right way to do business in the crypto currency world.
Have you looked at the specifications of the currently available generation of Bitcoin ASICs lately while considering getting a miner in order to get some coins at home? As Bitcoin network difficulty is progressively increasing every ~13 days, the hardware manufacturers are already hitting the limits of the 28nm production technology and the BTC exchange rate stays at low levels things are not looking good. We have checked what you can expect to earn with some of the SHA-256D ASIC miners for Bitcoin and have done some calculations that you can see below using the current network difficulty as a base.
SHA-256D ASIC Miners for Bitcoin:
Rockminer R3 Box – 450 GHS @ 450W – $185 USD
BitMain AntMiner S3+ – 453 GHS @ 355W – $215 USD
Rockminer T1 BOX – 800 GHS @ 1000W – $349 USD
BitCrane T-110 – 1.1 THS @ 1100W – $1299 USD
Spondoolies-Tech SP20 Jackson – 1.7 THS @ 1100W – $1190 USD
BitMain AntMiner S4 – 2 THS @ 2000W – $1250 USD
Looking at the list of miners above you can see that they are actually not that many options available that you are currently able to order and get very soon in your own hands. There are some miners available for pre-order with next month shipping or Q1 2015 expected availability for example but we have not included these. KnCMiner’s Neptune is also not included as these are not being sold at the moment and even if they did at the last listed price nobody would be buying them anyway. We have not listed some other miners from companies that are supposed to be shipping, but we have not found a single trustworthy review or confirmation from anyone that actually received a product from them.
Expected daily mined BTC with the current network difficulty:
Rockminer R3 Box – 0.006466 daily, 0.04526 weekly, 0.194 monthly
BitMain AntMiner S3+ – 0.006509 daily, 0.04556 weekly, 0.1953 monthly
Rockminer T1 BOX – 0.01149 daily, 0.08043 weekly, 0.3447 monthly
BitCrane T-110 – 0.0158 daily, 0.1106 weekly, 0.474 monthly
Spondoolies-Tech SP20 Jackson – 0.02443 daily, 0.171 weekly, 0.7329 monthly
BitMain AntMiner S4 – 0.02874 daily, 0.2012 weekly, 0.8623 monthly
Do note that the above numbers represent what you can earn with the hashrate that the specific ASIC miner provides with a Bitcoin network difficulty remaining at 35,002,482,026 for the duration of the whole specified period. Also these numbers represent the mined coins and you would need to subtract the costs for the electricity from them based on the power usage for the miner and your electricity prices per kWh in order to get an actual profit you will get. As you can see even 2 THS are already not that much and you are going to mine less than 1 BTC per month with this hashrate and with the current sub $400 USD price for Bitcoin when you subtract the electricity fee (can get to half the mined coins) things do not look promising. So for small time miners Bitcoin mining with ASIC miners is not very interesting anymore and even for larger farms things might not be that bright as you might think, so it is no surprise that some of these are selling their hashrate in the form of cloud services. The only thing that could make Bitcoin mining attractive to normal users again is a significant increase in the price of BTC, so you can be mining now and keeping the mined coins waiting for that to happen…
Today the guys at KnCMiner have released some tips for users that have received or are about to get their Titan Scrypt ASIC miners regarding how to maximize the hashrate and meet the announced 300 MHS expectations that users are having. According to KNC the use of crypto coins with very fast blocktimes on multi-pools are not recommended for maximum hashrate and they do recommend users to go for the following pools that should not have issues with the high hashrate that the Titan miners have:
WeMineLTC (stable above 300MH/s, this pool also merge-mines DOGE).
LiteGuardian (best performance so far but LTC only (no merged DOGE mining)) 300MH/s+
GHash (300MH/s+ on both LTC and Multi-pool)
KNCMiner have also announced that they are working with some other pools in order to improve performance with the Titan miners where currently users are having trouble getting at 300 MHS. These pools include Coinotron, where they are apparently getting around 260-270MH/s so far as well as CleverMining and apparently others that were not cited in the latest news release coming from the company.
The settings KNC recommends to be used on the mentioned above pools:
WeMineLTC: Use the regular stratum and leave the worker settings at default; stratum+tcp://power.wemineltc.com:3333
LiteGuardian: Use the ASIC-ready URL: stratum+tcp://asic1.liteguardian.com:3335
Ghash: Set the difficuly to 8192 at the pool, you can find this under worker settings. You can use the LTC/DOGE or Multipool URLs: stratum+tcp://ltc.ghash.io:3333 or stratum+tcp://multi.ghash.io:3333
This however is not enough to cover for the many more problems that users who have already reported after receiving their Titan miners as the lower than advertised hashrate is just one of the issues that is often experienced. It also does not cover the fact that KnCMiner is already late in shipping all of their Titan Batch 1 miners to users, something that was supposed to happen before the end of Q3 and we are already Q4 with a lot of people still waiting for their mining hardware. With the KNC policy of not offering refunds to customers, their products having a lot of issues, the company delaying shipments and so on it seems that a lot of people are already considering taking legal action against KnCMiner…