Crypto Mining Blog
It Is All About BTC, LTC, ETH, DOGE, KAS mining as well as other alternative crypto currencies
Search
BitMain Cancelling the AntMiner L1 Scrypt ASIC Miner
19 Dec2014
With the current situation on the crypto currency markets and especially the low exchange rate of the Litecoin it is no wonder that we are seeing another ASIC manufacturer cancelling their plans to release a new Scrypt ASIC Miner. The problem with these kinds of actions is that manufacturers are loosing users trust, even though they may try to compensate their customers in some way. Back when BitMain announced the pre-order for the L1, something new for them back then, we weren’t that happy and now we are also not very happy with the fact that BitMain waited up until now to announce they are cancelling the L1 when they were supposed to actually start shipping the finished product. Below you can find quoted the official announcement from BitMain about the discontinuation of Antminer L1 along with what options they offer to customers who have pre-ordered the miner:
Dear loyal customers,
The decision has been taken not to continue production of the Antminer L1
In response, all customers will be able to choose one of three options:
1) The original order value of $599 will be refunded at 105% value [$629] by bitcoin at current market rates. Customers will receive bitcoin payment.
2) The original order value of $599 will be refunded at 110% value [$659] by bitcoin at current market rates. This will be credited against any new S3/S4/C1 order placed in the web store.
3) The original order value of $599 will be credited at 115% value [$689] against an S5 order placed in the web store. This will be issued in the form of a 15 day coupon, each coupon valued [$344.5].Please await an email info@bitmaintech.com for further instructions.
Though we are sorry that we do not deliver this time, it still turns out that buying L1 from BITMAIN is a very best way to earn more Litecoin.
Data Analysis: In the beginning of L1 sales, you only need to pay 115.86LTC to buy one L1 per the LTC/USD exchange rate 5.17 in the early September. However, you will get 193.22LTC under current LTC/USD exchange rate 3.1. And then plus extra 5% value, a total amount you get is 202.88LTC per unit. Return on investment is 75%. If you choose coupon compensation, Return on investment is 91%.
It is not very clear weather BitMain has already finished with the development and has actually produced some mining hardware or they are cancelling things before they have actually been finalized. The problem is that after ZeusMiner cancelled their Volcano miner and 3rd generation Scrypt ASICs and now the same happening with BitMain and their AntMiner L1 Scrypt ASIC things do not look that good for Litecoin and other Scrypt crypto currencies. The low exchange rate of LTC at the moment makes older Scrypt ASIC miners not very profitable to run due to their high power usage and with no newer generation more efficient miners announced to be coming soon things could get even worse.
- Publihsed in: Mining Hardware
- Related tags: Antminer L1, Bitmain, Bitmain Antminer L1, Litecoin Scrypt ASIC, Scrypt ASIC, Scrypt ASIC Miner
Check Some More Similar Crypto Related Publications:
- KnCMiner Titan ASIC To Offer 250 MHS Instead of 100 MHS Scrypt Hashrate
- ASIC Miners Getting Advertised as Home Heaters for European Miners
- New Multi-Algorithm ASIC Miner – The Baikal Miner BK-G28
- Who is Making Scrypt ASIC Miners and When Will They Ship
- 720 MHs Ethereum Mining Rig With 6x MSI GeForce RTX 3090 SUPRIM X 24G GPUs
- New Bitmain Antminer B7 96KHS ASIC Miner for Bytom (BTM)
- The Power Consumption of a 6-card Mining Rig using GeForce GTX 750 Ti GPUs
- BitMain Now Shipping Batch 3 of their AntMiner S2 1 THS SHA-256 ASIC Miners
- First Impressions from the Gigabyte NP106D5-6G GPU Built for Crypto Mining
- Review of the ZeusMiner Blizzard X6 Scrypt ASIC Miner
- First Impressions form the ASUS Mining P104 4G GPU
- Canaan Avalon A9 is an Upcoming 30 THS Bitcoin ASIC Miner
- Crypto Mining Performance of the New Nvidia GeForce GTX 980
- 550 MHS BW-L21 Litecoin (Scrypt) ASIC Miner
- Innosilicon A2 Terminator Scrypt ASIC RPi OC Mod
- The Innosilicon 14nm A4 Dominator Scrypt ASICs Coming Soon
- Boost Performance or Optimize Power Usage on AntMiner S9 and L3 ASIC Miners
- First Impressions from the iPollo V1 Mini Ethash/ETChash ASIC Miner
- New 20 GPU Motherboard – The Asus H370 Mining Master
- BitMain Ready to Start Shipping 28nm Bitcoin ASICs
- Using a PCI-Express x1 to 3x PCIe x1 Slots Splitter
- The First Kaspa FPGA Miner – Osprey Electronics E300 14 GH/s kHeavyHash Miner
- Iceriver KAS KS0 PRO ASIC Miner to Replace the KS0 Entry Level Kaspa ASICs
- SFARDS SF100 ASICs Coming Soon, But Too Expensive
- Is BLU View 2 a Good Smartphone for Crypto Mining – Unfortunately No
2 Responses to BitMain Cancelling the AntMiner L1 Scrypt ASIC Miner
Jack
December 20th, 2014 at 08:49
well good news for current miners, and those of us waiting on knc titan batch 2. Not like there’s still hope of ROI but at least difficulty won’t be rising as fast. LTC is still the only altcoin big enough to attract any asic manufacturers so it’s still silver to Bitcoins gold.
This is sad
December 26th, 2014 at 04:29
Looks like they are mining for themselves and just wanted some BTCs borrowed to invest in THEIR miners! ;(
I hope they are good characters, but I’m not sure.