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Posts Tagged ‘bitcoin asic

cointerramining-logo

CoinTerra, a company making Bitcoin ASIC miners, has announced their new service for cloud mining as an alternative to the mining hardware they are making and selling to customers. With available plans ranging from 200 GHS to over 1 PHS, CoinTerra certainly is making some bold claims, especially adding the fact that they promise immediate deployment of the purchased hardware. The interesting thing here is that this is the first hardware manufacturer of ASIC devices to launch their own data center and offer cloud mining services with their own hardware. Other ASIC makers such as Zeus and KnC have also announced their plans, however they have not yet launched similar services offering users the ability to purchase hashrate directly from them.

cointerramining-mining-plans

In theory purchasing cloud mining hashrate directly from the hardware manufacturer should provide users with the best possible prices, however that may not always be true. A real world example shows that with the lowest available contact for 200 GHS of hashrate currently being sold for $999 USD you will be paying about 0.0115 BTC per GHS for 1 year contract this is not the cheapest price you can get comparing to other available services. Of course going for higher hashrate such as 2 THS will make the price per GHS more attractive at 0.0092 BTC which is still higher as compared to CexIO where you can currently get 1 GHS at about 0.0069 BTC. To achieve a similar price you would need to go for at least 1 Petahash at CoinTerra, though if you go for 2 year contracts the price you get for the second year is better and if you compare the prices to Cloud Hashing they do look much better.

cointerra-terraminer-iv

Currently the company sells their TerraMiner IV 1.6 THS Bitcoin Miner for $3499 USD or less than two times cheaper compared to the 2 THS cloud mining plan they have available for 1 year priced at $7999 USD. And there is another thing that is not very clearly defined is if there will be a maintenance fee for the cloud mining hashrate you are going to be purchasing. There is a brief mention of 5% combined fee (including maintenance) in the formula that is being used to calculate your Bitcoin earnings in the CoinTerra Mining Sales Agreement. The maintenance fee is not uncommon for cloud mining services, but with the fee subtracted from our mined earnings and these prices we can easily say that there are already better priced and proven alternatives than CoinTerraMining that not only are offering better price per GHS, but are already well established and trusted and make it much easier for the users to monitor, control and even withdraw earnings as soon as a block is mined and confirmed. In short, good job for CoinTerra to come out with such a service first among ASIC manufacturers, but the initial terms, prices and functionality they are offering does not make the service so much attractive as you would expect.

For more information about the new CoinTerraMining Bitcoin cloud mining service…

bitmain-antminer-s2-sha-256-asic

The Chinese company BitMain has started shipping the third batch of their AntMiner S2 SHA-256 ASIC miners with a hasrate of 1 Terahash for mining Bitcoin. The new batch of S2 miners is priced at $3199 USD (7.387 BTC), the company has started shipping the first two batches of their new Terahash Bitcoin ASIC miners at the start of this month, but the problem is that even at the current price putting the numbers inside a calculator does not give out promising results. With the current exchange rate of Bitcoin you are not going to be able to even get a return of the investment in the hardware you have made. You would need an exchange rate of about $650 USD in order to be able to break even by the end of this year and this everything going on lately things are a bit uncertain. Thus investing in Bitcoin ASIC devices may not be the best choice at this particular moment, especially if you are going to be paying with BTC for them. And with the current market situation investing in Scrypt ASIC miners does seem riskier as well, so people are already very careful in what they put their money into.

gridseed-new-19-mhs-asic-miner

Do you remember the 19.2 MHS Scrypt and 520 GHS SHA-256 Dual Mode ASIC that we have reported about being available for pre-order form a Chinese seller. We have expressed our doubts about that product and it turns out it will not be available by the end of this month, though the seller claims it is something that Gridseed is currently working on. So we might actually see the product in some form available in a bit of time, but for now you can be rest assured it is not going to hit the market anytime soon. If we see the 19.2 GHS Scrypt mining ASIC in a few months however it might be a bit too late as other ASIC manufacturers are already promising shipping date for more powerful Scrypt miners to be out before the end of the year…

Below you can read the official quote from the seller as a response to the user interest in the 19.2 MHS miner that they have listed for pre-orders:

Dear customers,

Thank you so much for your interest in the super miner (520GH/19.2MH) shown at our store before, we decided to take it down before more information is available.

We got this product info from an agent of Gridseed. And we were told that the miner would be available at the end of March. So we put it at our store. Unexpectedly, it has generated a lot of interest and doubts alike in the mining circle. And we have received messages from a lot of customers, who are both interested and doubtful, which is very understandable, because the information was limited and no one has actually used this product yet.

And we have to clarify one fact: WE ARE NOT SCAMMERS. Firstly, we didn’t take any order of the product. None. Secondly, we have been receiving very positive feedbacks from our customers. Anyone who has worked with us knows that we are an honest store. Thirdly, it was not intended as a marketing ploy either. We saw new products coming, we put them at our store, that’s it.

So under these circumstances, with the attitude of being responsible to our customers, we decided to take it down until more information is available.

At the same time we are requesting for more info and wait until we know better.

Thank you so much.


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