Archive for the ‘Tests and Reviews’ Category

We got our hands on a Bitmain Antminer X3 CryptoNight ASIC miner for a few days and have decided to give this soon-to-be or already way too expensive paperweight a quick test to see what you can expect from the device as they have been shipping for a week or two already to customers. The Antminer X3 is capable of delivering 220 KHS at 550W of power usage as per specifications and the device kind of manages to actually deliver on these numbers. The kind of part is because we’ve experienced some weird results trying to actually make the ASIC miner work properly on some popular pools and services such as NiceHash for example. When you point out the X3 to NiceHash’s CryptoNight (not CryptonightV7) stratum you get the device to connect and report extranonce support, but all you get are rejects and 0 as hashrate. So apparently the Antminer X3 does not work properly on NiceHash at the moment, even after flashing the latest available firmware that seemed a day newer than the one on the device we have tested. No go on NiceHash which seems as the best option for the moment considering that there are not that many CryptoNight coins left that offer good profit as most of the serious coins have already switched to the new ASIC-proof (for now at least) CryptoNight V7 algorithm.


Moving to a quick test on Nanopool’s Electroneum (ETN) mining pool as the next best thing after NiceHash in terms of profitability kind of worked, but not as we have expected. Here the miner connects and apparently works on the pool side, but the pool reports only about 20 KHS hashrate and not the full 220 KHS that it should. Locally the miner seems to work fine and the locally reported hashrate is also fine with a bit over 235 KHS average reported. People have reported success on some smaller ETN pools with the X3 ASIC miner, but even if you manage to make the device work properly on Electroneum you will not have a lot of time before ETH also forks and becomes unmineable with this miner.


The next thing to try was going for AntPool and Monero Classic (XMC) where with no surprise thins worked great out of the box, after all this is Bitmain’s mining pool, where they probably also test all the miners before shipping them to customers, so no surprise that it all works. The problem however is that you only get to mine XMC there and it is traded on only two exchanges according to CoinMarketCap, but at least it works and you can probably make a coin and a half to about two XMC coins per day at the moment or roughly maybe about $15-18 USD at the current rates and difficulty.

Here is how the situation looks profitability wise for the Antminer X3 ASIC miner on CryptoNight according to WhatToMine. The other possibly interesting coin to try mining with AntMiner X3 is ByteCoin (BCN) that has recently seen some boost in interest probably tied to the availability of the X3 ASIC miners in the hands of miners. So do you think that the BitMain AntMiner X3 is a soon-to-be or is already way too expensive paperweight? We definitely do not like the fact that it is not working properly on services like NiceHash or big pools like Nanopool out of the box, Bitmain should’ve had enough time to make sure possible issues have been resolved… and they can always release an update to fix problems like these while the devices are traveling to their customers. Can’t say we are happy for the short time we had with the X3 miner to give it a try and would definitely not recommend it at the moment, not that we did when they were announced either.

A month ago we have shared our negative experience with Giga Watt’s Miner Hosting Services and we just wanted to update you on the topic and still warn you to stay away from their miner sales and hosting services. Our December and January batches of miners that we have paid for back in November last year are still not deployed and not working and up until a few days Giga Watt was still selling new mining hardware for who knows when to be deployed (they have apparently stopped). Our disappointment with their services continues and it will get even worse for sure and they are just delaying and delaying month after month…

The WTT tokens are a bit better, but our disappointment extends there as well. There is still no price-varying real market for renting the tokens (you cannot use the tokens when your miners do not get deployed for months already). You still need to rent out all your tokens and you cannot rent them all even at the lowest price, so you are losing on that as well… no matter how much tokens you get you can rent maximum about 70% at the lowest price or less if you increase the price. Recently the company has risen the prices for electricity with 20% “in favor of the token holders”, but nothing really changes that much, at least your tokens should earn you a bit more. So we would also recommend not to go investing in WTT tokens now.

Last year when Giga Watt (the former MegaBigPower) announced their WTT token sale we were pretty excited about it and not only participated, but spread the word about it. With the good track record we were expecting big things to happen, but now, 9 months later we are really disappointed from our experience with Giga Watt in general and would want to warn everyone to stay away from their services. It is all but a delay after delay after another delay and things not happening for months after they take your money and in the world of crypto delays with months are not something that anyone wants as things change quite rapidly.

Let us see why we are not happy. First we were promised tokens that represent actual power capacity in the Giga Watt facility, of course they needed some time to build that capacity, so as a result there were more than a few month delays until the release of all of the tokens. Unfortunately letting users know how is development progressing during all this time has been less than well done with just a few scarce updates instead of constant updates on progress. We were promised market for these tokens that would allows us to profit from holding and leasing them to users needing power to host their miners and if there is a demand we could get higher price. Well, guess what, even at the lowest price of 4.2 cents you are not able to rent more than 60% to 75% of your tokens, regardless of how many they are and this has been like that from the start months ago.

In the end you have some 30 or more percent of your tokens free all of the time, so why not purchase some of the miners sold by Giga Watt and have them hosted at their facility to actually utilize the free tokens for something. Great idea, right, or so we thought and wanted to try it out a couple of months ago, so around the end of November last year we have purchased the following ASIC miners: Antminer S9 13.5 TH/s – PSU Included Batch 6 January and Antminer L3+ – PSU Included Batch 6 December. With these descriptions one would expect that the L3+ would go online in December or January latest and the S9 in January or early February. Guess what, it is already mid March and our miners purchased and paid for are still not online in Giga Watt’s facility.

We were pertinently waiting and waiting for something to happen, but our patience ran out completely at the beginning of February and the reply we got from Giga Watt was that our miners “should be deployed in February”. Well, they were not deployed in February and at the end of the month we were pretty pissed off already, so asking what is going on we got a reply that “Batch 6 hardware is expected to start the deployment process in March”. It is already mid March and we are still waiting for our miners to be deployed, even though earlier this month Giga Watt has released more tokens, meaning that they have additional power capacity already.

There are two more weeks by the end of the month although we do not have high hopes that we are going to see our miners getting deployed in that time frame, but even if we do see them we are clearly already very disappointed and not only will not recommend Giga Watt’s services, but will warn people not to rely on them at all. We are really disappointed from Giga Watt not delivering on time and on their promises and disappointed customers do not get compensation or refunds, so just stay away from them and save the trouble. We do plan to sell the tokens we own and move on, apart maybe from the ones needed by our miners if we ever see them getting deployed this month, or maybe the next one or who knows when.


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