Topic: [796.com] RedStarMining.com - the oldest public mining security [15.0(TH/s)] - page 20. (Read 120478 times)

Josh@BFL - 22 June 2013 - ASIC Update

I haven't updated in awhile because I thought the shipping was self explanatory, but people seem to be clamoring for an update, so here we are.

We have been working our way through the backlog of orders over the past month. Production is slowly ramping up and we are easily able to manufacture 200 units a day currently - there will be no problem hitting 400 units a day once things are in full production. Right now, we are stymied by the inflow of chips. However, the inflow rate of chips is increasing and we expect it to be quite high within the next week or two. It's been a long road to smoothing out these bottlenecks here and there.

Lots of Jalapeno's have been sent out the door, as well as some singles and minirigs. Production on the longoard lines are really going to start to ramp up next week and the following weeks.

We have been refining the firmware for both the short board but mostly for the longboard. One of the primary changes has been to switch from a one job per board method to a one job per chip method. This has fixed a lot of the latency issues we were experiencing with the early firmware and what held up production on some of the 60 GH/s units. We have not yet finished the XLINK portion of the firmware to be operating at 100% yet, so the first few minirigs that are going out the door are shipping as individual USB devices (8 per box) instead of 1 big USB device. Going forward, once the XLINK stuff is finalized, minirigs will be shipped out as XLINK equipped.

We will continue to refine the firmware as we go along. With the current firmware, we are seeing between 260w to 280w per 60 GH/s unit, or 4.3w - 4.6w per GH at the wall on 120v. Actual chip wattage is just under 3w per GH.

In other news, we have released all the documentation necessary for people to begin creating their own boards to house our chips and we have begun selling our chips in bulk. The first deliveries of our chips are expected in roughly 100 days from the time of order. We still expect the current back order backlog to be cleared by the middle of September or so, although given what we can likely achieve with our production rate, I suspect it may be sooner than that. No guarantees on that either way, though.

As a thank you to our customers for being patient with us as we move towards fulfilling our shipping we are instituting a chip credit program for all pre-orders prior to April 1st, 2013 (Including orders already delivered). This program will allocate a $25 discount per chip up to the number of chips you currently have on order. For example, if you have a Single SC on order, you will receive a $25 credit per chip for 16 chips (Meaning 16 chips can be purchased for $50 each). The chip count for each unit is as follows:

5 GH/s / Jalapeno: 2 chips
25/30 GH/s Miner: 8 chips
50/60 GH/s Miner: 16 chips
500 GH/s Miner: 128 chips
1.5 TH Minirig: 384 chips

Every customer with a current pre-order dated prior to April 1st, 2013 will receive a chip credit for the number of chips/units they have pre-ordered. What this means is that you will be able to purchase raw chips from us for $50 instead of $75 per chip, up to the number of chips you have credit for. We realize that not all of our customers are interested in or have the desire to make use of the chips themselves. To that end, you will be able to sell your chip credit to other people who may be interested in or have the ability to make use of the chips directly.

For our very earliest customers, the first three months of orders (June 23rd to September 23rd orders) will receive 2x the value of the chip credits. For example, a 60 GH/s miner will be worth 32 chips in credit, a Jalapeno will give a 4 chip credit.

You should see your chip credit code(s) in your account shortly, and you may do with them as you wish at that time.

There is a 100 chip minimum purchase, so if you are acquiring codes, please be sure to understand that you will need to order a minimum of 100 chips.

Terms: While we do not have the facilities or the ability to facilitate chip transfers directly, the chip credit codes are transferable from one person to another and we do not limit the resale or transfer of the chip credit codes. The customer is responsible for doing their due diligence when buying, selling or trading the codes, so please be sure to only trade with trusted, verified individuals. Codes can not be refunded, returned or canceled once they have been used or transferred. Butterfly Labs will not be responsible for what a user does with their codes and we are only providing the discount to verified, paid pre-existing pre-orders. Once codes have been redeemed and the payment process has begun, if you do not complete the payment, the codes will be invalid and can not be refunded or returned.

https://forums.butterflylabs.com/announcements/3272-customer-appreciation-chip-credit-program.html

 This should perhaps be put forward as a motion on btct.co as its quite a deviation from your prospectus.

If it was delivered today and difficulty didn't rise too quickly just one of our SC's could make ~BTC58.00 in its first month of mining.  I think with the first months profits enough should be taken to order a 50(GH/s) SC and then all the rest paid into a dividend.  I think this idea should be carried on until the second month of mining on our third SC.  Before we start the 90% reinvestment of profits.  What are investors views on this idea?  Does a motion need to be held on it?

Not long now  

The very first Single SC 60gh/s unit was shipped out on Tues 06/11/2013 during the 5 o'clock hour. I know this because I happened to visit BFL HQ on the right day. This is a momentous occasion for Butterfly Labs and the Bitcoin community as a whole. I will be posting a full write-up of my visit in the next couple hours. This write-up will contain a lot of information, some of which is unknown to the general public and other information will clarify a lot that has been left to speculation. There were maybe 8 Singles that had been built and tested while I was there, most of which did not have any problems getting into the 60gh range, even with un-binned chips, so no one should worry about getting a device with less than their ordered hashrate. Without further ado, here is some pics of the first Single being boxed up and shipped out to one very lucky customer..........................................

https://forums.butterflylabs.com/announcements/3214-first-single-sc-60gh-s-has-left-building.html

The firmware is finalized and the long boards are finalized. I will get a count of how many longboards are coming in this week tomorrow (Monday) to see where we stand. I believe BFGminer is fixed (and I will be sending long boards to Con and Kano for CGMiner to have it fixed) and ready to go.

All product lines should start shipping next week unless something unexpected come up between now and tomorrow afternoon.

Plenty, many, lots - these words to you and I mean something, to Josh and BFL they mean wiggle room.  Since those words can be subjective, plenty could mean 25? 50? 5000? either way, in BFL's eyes, saying plenty and shipping 50 wouldnt be misleading or a lie. 

I am pretty sure the BFL ship has sunk like tha titanic. 

Quote from Josh@BFL yesterday


https://forums.butterflylabs.com/pre-sales-questions/3011-clearing-backlog-question.html#post37133

We will be delivering plenty of singles and minirigs this month.

Late on the 1st of June 2013 - BFL_Josh - Shoutbox - :     Boards (long and short) arrived tonight.  They will be putting stuff together tomorrow all day. We  basically aren't taking any days off and will be running a 24 hours a day as required if we have stuff in stock and ready to go.

A quote from today 2013/05/23 by Josh@BFL

We are expecting several thousand chips next week from our new packaging facility and expect to start shipping all product lines next week. Beyond that, we will be receiving thousands of chips per week at an ever increasing pace between now and until all of the remaining 68 wafers are used up. We have additional wafers on order and they should be ready about the time we've used up all 68 wafers should we need them. Soon after, we hope to have product on the shelf for immediate shipment, depending on how many orders come in between now and when we catch up the backlog. *************

https://forums.butterflylabs.com/announcements/692-bfl-asic-status-2.html#post16043

Latest from BFL on 2013/05/22 is they are optimistic that the SC range will start shipping the week of the 26th.

I know some other company that promised to deliver in September too.... (2012). Delivery date will probably be more important than power efficiency in foreseeable future. But still might be worth of investing part of the capital to make a pre-order. Is there a reason to trust them, why do you think they actually will start shipping in September 2013?

There is a EU ASIC supplier coming online with 28nm chips    https://www.kncminer.com/products/saturn

175(GH/s)@$3795 to start shipping in September.

I think we should look to these when we upgrade for many reasons.  Firstly we will have to pay no import VAT and secondly at 28nm these are the most advanced and power efficient ASIC's to be announced so will last the longest.  Then thirdly at that price there the cheapest $/(GH/s).  We will need a new hoster in the EU or Iceland so if anyone can offer any ideas on that'd be helpful.