Topic: [CLOSED] NinjaGRP#7 800GH Rackmount Avalon3 Miner $2700 (Read 3806 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.

The monthly hosting fee is all inclusive of space, power, cooling, bandwidth and management. 

What will be the electric cost?  or is the hosting all we have to pay to have the miner running and nothing else period.?

We need your payment ASAP; bitcoin has to be converted to USD and that takes a few days.  We have to pay our invoice in full ASAP or we risk losing the 20 units we have reserved. I'm personally keeping 5 or 6 of these, so we have part of the money covered...but that also means there are just 14-15 really available

Copypasta error....You are buying a full miner.  You can always just have the hosting deducted from your earnings in BTC, or pay monthly in USD; the prepaid hosting option is there for those that want to maximize their BTC return.

Would you guys prefer smaller fractions?  We can break up some of the units into 10th's if there's enough demand for smaller hashes.  

Just to clarify:

Is it:


or:



What's the deadline for payment? Does the hosting fee need to be prepaid at the time of order, or can it be paid later? Scratch that, I think it says quite clearly "at time of purchase".

Here's what we got from the factory. The design had been proven out with the previous generation Avalon chips.  These miners use a new 28nm Avalon that just released. They are 2U in size, have a 950 watt power supply, and can supposedly run between 1-1.2TH. The first batch of these is due to ship from Mainland China April 8th.  There will be 300 miners in that batch, of which 200 are already sold.  We have placed an order for 20 units.  I tried to get a sample unit, but the very first ones aren't available until April 8th.

These 2U Miners look pretty good - do you have any official info as not heard these were in production at the current moment in time?

Thanks

 

Closed, refund in progress
Please note the spec change and updated pricing on the Avalon3 Miner.

For more info about our cooperative and to get the latest news on new group buys check out http://coinninja.com


Avalon figured out the right deployment packaging.  1TH+800GH in a proper 2U enclosure!  These are both power and space efficient, allowing us to pass on the lowest hosting fees of any of our group buys. Only $199/mo if you pre-pay!

Group Buy consists of 10 - 2U 1THs 800GH 1kW 28nm Miner. Each miner is priced at $3300 $2700 with an estimated shipping of April 8th. No shares this time around, you'll own a whole 1TH800GH miner!

We've come up with the funds to place a firm order for 17 units which will fill a full datacenter cabinet.  The factory only takes a bank wire payment, so we will be converting everything at the time orders are placed.  We take no responsibility in case of non-delivery, hardware failures, customs delays, acts of god or anything else; of course we will work our ass off to make things right ~ this is the 7th group buy so we've got the process mostly dialed-in. We did due diligence and we believe the seller (a large factory in China) is reputable. If it turns out we end up needing to get a refund, it would be distributed amongst the owners. We run a professional colocation company and will be doing more group buys in the future. We have 10MW worth of power at our disposal!  There are a total of 10 shares for this Group Buy (Each share represents a full miner).


Who am I?
I'm an open source developer, and a Bitcoin mining hardware addict. I've run out space at several mining locations, and finally "bit the bullet" and moved into a world class datacenter. We are talking about a 24 hour security (multiple redundant power systems, back-up generators, back-up back-up generators, pre-chilled water tanks for back-up cooling, retina-scan access) professional data center. I am the Meetup coordinator for the Arizona Bitcoin Meetup group (now 130+ members strong; Bitcoin is kicking ass in PHX!!!). I've met many people from Bitcointalk and prominent members of the community in person as well. I've run a few Bitcoin related projects, designed my own Bitfury USB miner (ouch on that story), and pretty much eat, sleep, drink, live and breathe Bitcoin 24/7/365.

No more intense heat, fire risk, angry wife, or surprise electric bills. Let us host your miner(s) in an ICE COLD datacenter.




This Group Buy Includes:

• 17 - 800GH/s 1kW 28nm Miner
• First 2 Weeks of hosting included FREE!
• Miners hosted securely behind a firewall: priceless

These 28nm miners get 1GH per Watt, so they should perform well up until the difficulty is up to 500M. Being hosted in a professional data center gives the group buy owner the advantage of the best uptime and lowest ping times to the pools to reduce stale shares. .

Terms

Payouts will be paid weekly. After the first 2 weeks, monthly hosting fees of $249.99 per unit will be assessed to the group buy (deducted from your earnings). You may prepay 6 months of hosting at time of purchase for $1199 (bonus discount!), to obtain the most amount of bitcoin.

If you were to try to rent datacenter space for this you would be looking at a minimum one year contract and $299/mo for space/power.  By grouping together we are able to bring down the costs, plus we manage EVERYTHING for you.

No additional management charges apply. The hosting charges will be deducted at the exchange-rate obtained by the group buy from a provider such as Coinbase. You may choose to pay your monthly fees in USD, so that you can keep the maximum amount of bitcoin that your hardware generates. You are contractually obligated to host your miner with us for a period of no less than 6 months.  You may choose to take physical possession of your hardware, after the initial 6 month period. NOC fee and shipping fee NTE $99 per unit apply (actual shipping costs additional, please send us a label).

You agree as a group buy owner to host your hardware with us for a total period of at least 6 Months. If at any time during or thereafter the weekly earnings of the miners are insufficient to pay the hosting fees, the group buy owners shall make up the difference in USD. Non-payment of hosting fees/deficit will result in forfeiture of ownership rights to the hosted hardware. Any and all payments are due when invoiced; 30 days late constitutes default and will result in forfeiture of your ownership.

How to Buy

PM me for a Coinbase invoice (payment gets converted to dollars that way); ACH payments are also available

IMPORTANT: You will receive your payout to the FIRST address that is used as an input to this transaction. Make certain that this is an address that you control, and not an exchange or off-blockchain wallet service. You will be required to sign a message using the first input address to verify ownership of your hardware.

FINCEN Compliance: This group buy is hosted in the US and geared toward US persons who would like to take an ownership position of Bitcoin mining hardware. You are buying a ownership of the hardware. You may choose to take physical possession of your hardware after a period of 6 Months. The group buy coordinator is NOT offering any type of security or financial product, rather we are selling ownership of physical hardware and providing hosting/management services. Out of an abundance of caution, we reserve the right to collect KYC information from our customers. You may be requested to present an ID and recent utility bill to verify your identity. The group buy coordinator is not a money transmitter, and merely facilitates hosting of miners for group buy owners.

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