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Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 320. (Read 3917468 times)

hero member
Activity: 617
Merit: 559
WOW!

Friedcat is pushing the open source development of his new "Block Erupter Project" https://bitcointalksearch.org/topic/m.7168771
This is the AM train gaining speed. Havelock still standing?  Cheesy



Entering the Future of ASIC Mining open source development by Inventing it.
newbie
Activity: 24
Merit: 0
WOW!

Friedcat is pushing the open source development of his new "Block Erupter Project" https://bitcointalksearch.org/topic/m.7168771
This is the AM train gaining speed. Havelock still standing?  Cheesy

lol, I came here afraid that Havelock got shut down or something, haven't been able to access it. Hopefully it's just from people racing to buy up all of the AM100 they can
hero member
Activity: 686
Merit: 500
A pumpkin mines 27 hours a night
WOW!

Friedcat is pushing the open source development of his new "Block Erupter Project" https://bitcointalksearch.org/topic/m.7168771
This is the AM train gaining speed. Havelock still standing?  Cheesy
full member
Activity: 432
Merit: 100
I've seen some people saying that it'll be great once AM gets its self mining going again. What is a realistic amount of PH that AM can get online? What percentage of the network do we think it will be by the time it's up and running? I seem to remember a figure of 30 ph from franchises.

About 20PH/s franchised inside China and about 3 PH/s solo mining in AM data centers. Friedcat doesn't seem to be that interested in mining at the moment. As long as the chips sell, it's better to just sell them instead of use them to mine. They earn more revenue and have a shorter turnaround time (sold instantly instead of "mining back" the investment) and thus can be paid out and reinvested much faster. Although I agree that a decent amount of self mining makes sense (BTC price increasing, constant income, independence)

From the link posted above that 20ph goal is long term. By the time that's up and running our franchisees would have 10% or under of the total network. How big of a facility would AM or it's franchisees need to deploy this much hash power?

With 3ph solo mining shouldn't we just use a mining pool to stabilize returns I realize the overall gain is higher solo mining but with around 1% of the network it seems like it will be feast or famine self mining which may cause cash flow problems.
hero member
Activity: 686
Merit: 500
A pumpkin mines 27 hours a night
I've seen some people saying that it'll be great once AM gets its self mining going again. What is a realistic amount of PH that AM can get online? What percentage of the network do we think it will be by the time it's up and running? I seem to remember a figure of 30 ph from franchises.

About 20PH/s franchised inside China and about 3 PH/s solo mining in AM data centers. Friedcat doesn't seem to be that interested in mining at the moment. As long as the chips sell, it's better to just sell them instead of use them to mine. They earn more revenue and have a shorter turnaround time (sold instantly instead of "mining back" the investment) and thus can be paid out and reinvested much faster. Although I agree that a decent amount of self mining makes sense (BTC price increasing, constant income, independence)
hero member
Activity: 630
Merit: 500
I've seen some people saying that it'll be great once AM gets its self mining going again. What is a realistic amount of PH that AM can get online? What percentage of the network do we think it will be by the time it's up and running? I seem to remember a figure of 30 ph from franchises.
20ph from franchises inside China https://bitcointalksearch.org/topic/m.6465166
full member
Activity: 432
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I've seen some people saying that it'll be great once AM gets its self mining going again. What is a realistic amount of PH that AM can get online? What percentage of the network do we think it will be by the time it's up and running? I seem to remember a figure of 30 ph from franchises.
full member
Activity: 224
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Just wanted to mark this spot as a placeholder to a point before imaginations began running wild again.
KS
sr. member
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Ford vs GM vs Chrysler

Sadly, the winner is: Toyota.

sr. member
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Ford vs GM vs Chrysler
full member
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Reading through the div predictions, I am leaning towards keeping a bit more in the war chest. I would rather see us completely dominate the mining market and push out a few of the competitors than the short term gains through dividends.

Judging by the strategy it's a chess match and sometimes in chess you sacrifice pieces to win. If you aren't able to look ahead more than a single move,  you won't follow this strategy. AM has had many firsts and appears to be the first BTC investment that looks at periods longer than a gold fish's memory.
member
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Reading through the div predictions, I am leaning towards keeping a bit more in the war chest. I would rather see us completely dominate the mining market and push out a few of the competitors than the short term gains through dividends.
sr. member
Activity: 378
Merit: 250
mostly because the rock solid faith I've had in AM was temporarily broken, and actually finding myself listening to some of the FUD around here and trading with high emotion (unrelated to bitcoin securities)...

Bear, don't blame the "FUD" that you sold low, blame yourself, it was your decision.

Anyway, where is my favorite Lambchop now ? come and say some words Smiley

we've got plenty of time for discussion to the next update, and yes my dividends estimations are around 0.05/share for first 3 months as your guys, don't forget that we'll see much more of Gen3 produced by ASICminer this year, these 6 000 000 Gh/s is nothing compared to planned 400 000 000 Gh/s - 1 600 000 000 Gh/s for Gen3.
legendary
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Leading Crypto Sports Betting & Casino Platform

knowing AM is gonna buy a shitload of BTC haha

I must have missed it where does it say that AM will buy a shitload of BTC anyways Smiley
hero member
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In case the great news caused anyone to miss it, rockminer is now selling miners for less than $1.1/gh (no bulk buy necessary).

http://shop.rockminer.com/goods.php?id=35

http://www.rockminer.com/R60/

If I understand correctly, they go even further to reduce risk to buyers.

Pay 1 BTC for 1 RX-BOX, shipping 25 Jun.  Add your own PSU and electricity.  If your theoretical mining revenue within 60 days is less than 1 BTC, you'll get a refund of the difference.  So in the worst case, you lose the cost of your PSU, 1036 kWh of electricity and any downtime due to your own facility.

This should sell well, methinks?
they essentially long on BTC in some weird kinda way in relation to a refund on their miner? am im understanding that right

(tin foil hat)
knowing AM is gonna buy a shitload of BTC haha
full member
Activity: 215
Merit: 100
In case the great news caused anyone to miss it, rockminer is now selling miners for less than $1.1/gh (no bulk buy necessary).

http://shop.rockminer.com/goods.php?id=35

http://www.rockminer.com/R60/

If I^Hgoogle-translate understand correctly, they go even further to reduce risk to buyers.

Pay 1 BTC for 1 RX-BOX, shipping 25 Jun.  Add your own PSU and electricity.  If your theoretical mining revenue within 60 days is less than 1 BTC, you'll get a refund of the difference.  So in the worst case, you lose the cost of your PSU, 1036 kWh of electricity and any downtime due to your own facility.

This should sell well, methinks?
sr. member
Activity: 448
Merit: 250
In case the great news caused anyone to miss it, rockminer is now selling miners for less than $1.1/gh (no bulk buy necessary).

http://shop.rockminer.com/goods.php?id=35

Nice! Mighty tempting with BTC/USD on the up!
hero member
Activity: 770
Merit: 509
In case the great news caused anyone to miss it, rockminer is now selling miners for less than $1.1/gh (no bulk buy necessary).

http://shop.rockminer.com/goods.php?id=35
legendary
Activity: 2016
Merit: 1259
Another victory for Jesus Christ  Grin
Just had to say that ha-ha

Back to the thread thanks for answering all the questions Friedcat reposting to the main page since it tends to get buried quickly in this thread

Brief Answers to Shareholder Questions

First of all, we would like to explain the situation we had in this May. The sales of chips mainly happened before May, while the ramp-up speed of chip sales slowed down mainly because of the lack of flexible whole-device solutions (having features of easy transportation, widely available components, etc) from our customers (device producers). As dedicated projects on improving the design of BE200-based devices we believe we will see much better sales because the room for hash rate growth is still huge and our cost in terms of $/G is highly competitive.

The other point we would like to address is that we are not cooperating with any mining device producers other than in the forms of simple buyer-seller relationship. Nor we hold shares of any other device producers. Our pricing strategy was discussed in the board before, which targets low margin large quantity instead of high margin small quantity because: 1) If both device producers and miners can have real profit after risk premium we will develop reliable consumer of chips in the long time. 2) It alleviates the problem of many potential purchasers waste time waiting for future price adjustments. 3) Higher quantity of orders in this generation leads to much more support from the fab with respect to all future generations of chips.

1) On the Balance Sheet, approximately how many chips does the current Inventory (Products + Materials + Masks) represent?
A little less than 60P of wafers, most of which are on their final stages of production. The materials consist mainly of lead frames for packaging. The mask is re-usable for years if there are continuing demands for the corresponding wafers.

2) How many months of inventory do you estimate that represents?
Depending on the Bitcoin price. Under this price we expect it to be 1-1.5.

3) On the Cash Flow there was significant expenses for gen3 production (~6mil USD). Does that represent the bulk of gen3 expenses, or are the expenses for gen3 going to continue (additional wafer batches ordered, etc.)?
It represent the order we already placed and paid for. There still are forecast plans for June we haven't paid for. They may be cancelled or delayed to later months according to how fast customers can turn Bitcoin chips to hashing power.

4) When will dividends start, and how frequently will they occur?
When the cash-flow becomes positive. After we decide to put significant quantity of chips on ASICMiner owned farms it should be per week. Before that, per month.

5) What is the status of gen 3.1 (shipping to customers, I think?)? How much does it help with energy usage -- do we have final chip performance numbers yet?
All shipped chips are gen 3.0 ones. What we had chosen for 3.1 helps with energy usage at 10% range and has some performance degrades. The final chip performance number is about 0.7W/G at 0.78V and 320MHz. Below that voltage we have less power draw and less speed.

6) What is the progress on gen4?
It is 28nm and has two major improvements: the first one is to fix the design errors we had with 40nm (which made our silicon data two times worse than simulated data). We believe that 0.35W/G at rated speed of 400MHz would be achievable in 40nm if no mistakes were made before. The second one is the technology improvement from 40nm to 28nm in terms of density, speed and power.

We are on the stage of evaluating the final design choices by running the physical design flow on different settings.

7) What is the status of self mining? What is the rollout schedule for the data centers?

8 ) What is the status of franchising partners? When can we expect to see income from them?
We will report the more detailed status to the board first. The short answer is that deploying and financing is easy while getting cheap electricity and proper device solution takes time. When we have farms running we can update the related information with real time hash rate.

9) Can you please clarify this sentence from 21st April : "The dividend schedule will be aggressive, as AM will not require large sums of retained capital." < is this still actual, or meanwhile something changed?
It is still actual. The condition in May is not a part of the plan. When we were forecasted permissively about this summer's production power of the fab, we ordered as many wafers as we could to prevent the bottleneck with wafer production.

10) What is the average selling price of AM gen3 chips (price per Gh/s)?
About 0.5$/G for sold chips.

11) What is that ~4M CNY in financial report/expenses at exchange?
Exchanged to USD.

12) What is the cash flow ratio between the amount of Chips Fabricated and the percentage of the batch that is dedicated to cost.
There are no orders dedicated to cost in the short time. So it's 1:0.

13) What is the Break Even Point of this batch of Chips?
Although the cost of making could be estimated by companies with experience on fabricating chips of high-end technology nodes, we
would rather retain the accurate price per chip from the public.

14) What is the estimated conversion time from chip sales to dividends?
The conversion time itself is fast and should not be the main stagnation of the time frame.

15) Will the funds from future Gen 3 chips be used to fund Gen 4 chips or distributed as a dividend, and what relative percentage of income will be retained for Gen 4?
Both. 1/3 as forecasted.

16) Previously our Asicminer farm was mining bitcoins and distributing a weekly dividend, will Asicminer update its present hash rate in the mining farms to account for current difficulty changes and to procure a secondary supply of Bitcoins to adapt for rapid changes in Bitcoin prices?
Yes. But that should be when we replace the farm with BE200 based devices, otherwise it is no point considering the 0.12-0.15$/kwh electricity price we get for our old farms.

17) What ever happened to the dedicated PR person and should AM make a website for distributors and for Chip inquiries?

18) Can we please get weekly, bi-weekly or monthly updates about progress, plans, sales etc. for preventing FUD in this thread?

19) Can you please communicate more clearly/frequently with shareholders?
When we are sure we get a good solution for the lack of communication we will announce.

20) What are the future plans and visions of Asicminer?
There will be at least two generations ahead. If future Bitcoin market cap allows there can be more. As we are keeping the chip design capability to grow with state-of-the-art technology as well as good channels with fabrication we can be flexible in terms of business mode be it chip-based or device-based.

I think this is the most thoroughly answered set of questions yet.  Excellent [rubs hands together]  I can't wait to see all this hashing power unleashed... into my wallet  Grin
newbie
Activity: 25
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These times are merely a test of faith.

Told you.
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