Crypto Mining Blog

AlcheMiner has posted that they are planning to start work on a second generation Scrypt ASICs, however they are looking for investors to help them start the process and that they plan to gather $5 million to $7 million for the Alchemist II project. They are looking for serious investors offering multiple investment plans starting at 50K USD, 500K and 1 Million USD offering different benefits. According to the information published it will take them about five to six months for the first batch to be launched in the market after the fundraising goal is met. The new chips are supposed to be used in AlchemistII-128 128 MHS miner with 280W power usage priced at $1299 USD and AlchemistII-512 512 MHS miner with 1150W of power usage and a price of $4950 USD.

The brief specifications for the new chip:
– Hash rate: 2 MHS
– Power consumption on the wall: 3~4J (1.5J~2J/MHash)
– TSMC 28HPC tech node
– Full custom design

The problem with their offer is that with their first generation hardware things were not that bright, there were issues and delays, problems with some of their partners such as MAT. Now the company wants to find big investors for new Scrypt ASIC miners promising hardware delivery in half a year with not so attractive hardware prices although specs look promising. The problem is that their track record is not that good, even though they actually had some hardware released and the current situation with Scrypt crypto currencies including Litecoin is not so great at the moment. The low market price of LTC following the recent halving of the block reward and the general uncertainty in the future makes it hard for anyone to actually invest in Scrypt ASIC hardware that is actually not ready at the moment. The recent SFARDS fiasco with the company being very vocal prior to having their new hardware ready and then going completely silent after apparently it has been ready for market also does not do any good for initiatives like the one AlcheMiner is trying to do. So what you might be waiting with anticipation in regards to Scrypt ASIC hardware could only end up being the next generation Innosilicon hardware that might soon be available…