But the SP20 isn't as loud (or at least isn't nearly as annoying) as the SP10; the form factor also made it more accessible than the SP20's rack case. And because the core voltage is fully adjustable it's still viable at some consumer-available electric rates a year and a half after it was introduced. I think that was his point.
I remember plugging in my first SP10 (one of the early non-preorder batches) when i was running a few S1 units. Within seconds i knew that this was not meant for home mining, the sound was horrific at full speeds.
I tink spondoolies greatest problem was that they designed an amazing combination of hardware and software in anticipation of BTC>$1000. The SP50 would have been a hands-down king of the hill if bitcoin prices were high enough to cover its expensive hardware component choices.
in terms of $/TH (not even including the specialty PSUs), the Sp50 would probably cost at least 50% more to produce that whatever bitmain sold as an S9/S10 competitor. In the midst of a mining race, the manufacturing is a trivial part of the final pricing, but when things reach an equilibrium (as it has over the last few months), sales prices realign with manufacturing cost and only the cheapest products find sales. This is why bitfury is well-posed to take the crown with thier simple string designs and software
I agree they apparently made high quality equipment (which I think they called "carrier grade") but frankly that was really, really stupid. This is not audiophile gear or even laptops, nor is it carrier gear.
Mining is 100% a commodity business that is set up to race to the bottom.
Lowest costs wins.If I remember you correctly from the good old days of mining, you've been a miner long enough to understand how important it is to optimize your costs and get the most from the least.
They might have been able survive had BTC prices stayed high, but it didn't make their strategy a good one.