Topic: [CLOSED] NinjaGRP#7 800GH Rackmount Avalon3 Miner $2700 (Read 3841 times)

So they are worse than the clones.

I ordered 2x single modules 290 from AVALON (ehash), I hope they reach at least 300GHS, lets see.

None of them hashed over 700GHs and 3 of them wouldn't go over 450GH, plus they consumed a TON of power. DHL is picking them up this morning, and we should get a refund in around 10 days at which point I will refund those that bought here.

How bad the machine is ?

We are going to refund and close the group buy.  The miners performance was way under spec and they are not at all reliable.  They are being returned to the manufacturer, as soon as we get our refund we will refund those that bought.

Hi, You will update the price ? The machines are hitting 800Ghs ? I´m asking because there are similar machines being sold here that are averaging 750Ghs.

DHL just dropped off the first batch of 7 of these, they should be up and running tonite.

I keep a very detailed spreadsheet. Due to the 0.12 btc/share tradein options into Group Buy #6, I closed out of my positions at:

GB#2, 9 weeks, 79.4932% ROI *
GB#3, 9 weeks, 107.3295% ROI
GB#4, 7 weeks, 89.2052% ROI

(If I had been previous owner, GB#2 would have been discounted and provided: 83.47% ROI)

We still have a couple units available, the rest are will be used to create our upcoming private mining cloud service (shhh).  I'll let everyone know the moment I get a tracking number. 

Are these still shipping out tomorrow, and there are still some available at the price listed?

Oh you are definitely legit. That I dont question. I'm just thinking about the math and the risk. I applaud your transparency and honesty.

Group one has paid out 68% of the initial investment, and the other early groups are in the 50-60% range. Mind you this is without the Neptunes, which should arrive sometime in the next month or so.  The amount per share is after all hosting fees have been subtracted; our operation is fully transparent and open. Those that pay for hosting in USD get the full amount of bitcoin that their share mined, with no deductions.

Oh and we actually mine, unlike some of the scam-mining operations that are merely a ponzi.  We can prove our mining activity on the blockchain, and are one of the top teams on BTC guild.  Our monthly fees are competitive with other companies that offer data-center hosting for miners; and we have been pushing those costs down over time. This group buy is down to $199/mo to host 1000W miner in a top-tier datacenter.  Start calling around and shop datacenter space and you'll quickly realize that its a *deal*.

FYI to anyone looking to invest, he puts the stats on his website and weekly updates. I commend him for posting them. Especially with how honest and bad they are.

http://coinninja.com/minerstats.php
http://coinninja.com/minerstats2.php

Call me crazy but are your customers losing money? What was the buy in and monthy cost for #2? Whats the ROI on your first 2-3 rigs so far? For group buy #2 is the math 3.6 bitcoins this week divided by 290 shares meaning each share produced .0124 bitcoin this week? Whats the monthly share cost? $24 a month profit is pretty painful.


Looks like "amount per share" stat thats on #4 is .006 average for the last 4 weeks on rig #4.  Is that their total profit at the end of the week?

Fair answer!  If the price of bitcoin does rise, it could indeed be profitable   All the best to you and I commend your composed and articulated answer.  Too much patience loosing in this forum over legitimate debate.

With the current price of bitcoin there isn't going to be ANY miner that will show a good ROI prediction ~ you're probably better off just buying bitcoin.  A few hundred dollars higher and it's a different ball game.  It's not the first time the mining forecast was all doom and gloom, but somehow most of the miners have managed to stay in the game.  Last time around it was the move from ~$100 average price up to ~1000 that saved the day for miners; how it will play out from here is anyones guess.  I can tell you that even 10% sustained growth at this point without an increase in BTC/USD rate will be toxic for most miners.

There can be some interesting tax advantages to mining at a small loss, particularly if you have other gains to offset. You can write off the mining losses, but still acquire bitcoin for future appreciation.  The mining hardware really can't even be considered a capital investment as it becomes so quickly obsolete.  It's cost is more akin to a drill bit for an oil rig, a straight expense.  There are similar tax strategies using oil/gas ventures.

Also you never know what exclusive offers we will find for our owners only group buys. We're making all sorts of interesting contacts in the bitcoin industry and are still excited about building out a big mine.

I urge anyone considering this group buy to do your homework before investing:

https://bitcoinwisdom.com/bitcoin/calculator

Using the values:
- 800 ghs hash power
- 2700 USD for hardware cost
- Monthly charge of 250USD

This hardware will NOT break even.  Not at 20% increment in difficulty, not at 10% difficulty increment... Only at 8% difficulty increase.

Please correct me if I am wrong, but I simply feel bad for people investing in such a group buy without understanding the hole they put themselves in.

Ok we've got 10 miners paid for; We ended up with only 3 shares of the last group buy so I'm taking 5 shares of this for my personal mine.  Our cabinet configuration going forward is 60AMP 3phase (17kw usable) so we should be able to handle up to 18 at the stated power ratings. I'm sure there will be more batches after this one to help us fill it up.

I'd like to get the half. PM sent.

Ok guys I have gathered enough USD where we can make a firm order for 10.  I really would love to have a full cabinet worth and set a new record for power density, but it may have to wait unit theres a second round of these becomes available.  The factory is selling out fast, so we have to get our wire for the 50% deposit in quickly.

I'll share one of my miners with you, we still have about a week to get all the payments together.

I would be more likely to buy 1/2 than a whole unit, although in any case I would need a couple of days, so probably not the "ASAP" customer you're looking for, sorry.