MegaBigPower Opens Buyback for Unprofitable Bitcoin Miners - page 2.

armedmilitia

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We're going to need a bigger heatsink.

Quote from: dogie on March 07, 2015, 12:05:47 AM

Quote from: KS on March 06, 2015, 04:15:42 AM

Spoondoolies has enough margin that they can do decent discounts on volume, for ex. Ditto fo the other manufacturers.

Spondoolies has been valiant enough to support the market with reasonably small margins. Their concentration is on quality above all else, including their own profit margins. If you can hold an S5 board and SP20 board in your hands, you'll work out for yourself which one is most expensive to make.

All aboard the spondoolies hype train! Undecided

Remember, none of these companies are out there to support miners. They are here to take as much money as possible from you.

dogie

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dogiecoin.com

Quote from: KS on March 06, 2015, 04:15:42 AM

Spoondoolies has enough margin that they can do decent discounts on volume, for ex. Ditto fo the other manufacturers.

Spondoolies has been valiant enough to support the market with reasonably small margins. Their concentration is on quality above all else, including their own profit margins. If you can hold an S5 board and SP20 board in your hands, you'll work out for yourself which one is most expensive to make.

wpgdeez

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Quote from: Bicknellski on March 05, 2015, 11:51:43 PM

Quote from: armedmilitia on March 05, 2015, 10:50:10 PM

Huh, the Canadian province of ~~Labrador~~ has about those electricity prices. For big customers they go down to almost $0.02/kwh on the nose.
I heard kuwait has power that is $0.01/kwh. And venezuela goes down to $0.0063/kwh (if you use the actual exchange rate). I've got a feeling the latter two countries might be difficult to set up datacenters in, though. Heh.

It is technically Newfoundland and Labrador, rarely do Canadians call Labrador a province they do say Newfoundland though.

You are correct and I sure wouldn't want to live there

"Newfoundland was a province of Canada from 1949 to 2001, now known as Newfoundland and Labrador."

KS

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Spoondoolies has enough margin that they can do decent discounts on volume, for ex. Ditto fo the other manufacturers.

MBP can simply pass some or all of the discount as whatever they want like, say, old equipment buyback. I also doubt they will bother with powering them up (maybe some for personnal use, or target a specific range of equipment and scrap the rest).

They might want to clear the second hand market of old equipment, but I think it would be futile. Power consumption decrease and harshrate increase for new equipment already do a good job of pushing old hardware to the scrap heap (you can still warm up your with them house though). There is a point where running a farm with old equipment is getting more expensive than running a farm with new equipment (even if you got the old miners for next to free and ditto for KWh). You still have to build the farm an maintain it, and that's not free.

lowbander80

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if am not mistaken they try to build a big mining site on the North of Sweden and the power they have is from Hydro so its super cheep.As big customers maybe they have better rates due to quantity but i really dont believe they will offer ebay prices.They rather go and deal directly with Bitmain or SPondoolies
I think they better publish the prices and models they will accept.
posting a request like sent me what you have and I will let you know if we are interested is seems
they are under exploration of the market.
My opinion Jupiters S4 S3 S5 and Spondoolies are the most trusted used equipment for low electricity.

KS

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Quote from: Bicknellski on March 06, 2015, 03:57:45 AM

Quote from: KS on March 06, 2015, 03:47:05 AM

Quote from: Bicknellski on March 05, 2015, 11:51:43 PM

Quote from: armedmilitia on March 05, 2015, 10:50:10 PM

Huh, the Canadian province of ~~Labrador~~ has about those electricity prices. For big customers they go down to almost $0.02/kwh on the nose.
I heard kuwait has power that is $0.01/kwh. And venezuela goes down to $0.0063/kwh (if you use the actual exchange rate). I've got a feeling the latter two countries might be difficult to set up datacenters in, though. Heh.

It is technically Newfoundland and Labrador, rarely do Canadians call Labrador a province they do say Newfoundland though.

I'd hate to correct a Canadian, but I think it is really ~~called~~ pronounced Newfoun'land.

La culture, c'est comme la confiture. Moins on en a, plus on l'étale!

The name of province is what is disputed. He has been corrected.

ditto

Bicknellski

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Quote from: KS on March 06, 2015, 03:47:05 AM

Quote from: Bicknellski on March 05, 2015, 11:51:43 PM

Quote from: armedmilitia on March 05, 2015, 10:50:10 PM

Huh, the Canadian province of ~~Labrador~~ has about those electricity prices. For big customers they go down to almost $0.02/kwh on the nose.
I heard kuwait has power that is $0.01/kwh. And venezuela goes down to $0.0063/kwh (if you use the actual exchange rate). I've got a feeling the latter two countries might be difficult to set up datacenters in, though. Heh.

It is technically Newfoundland and Labrador, rarely do Canadians call Labrador a province they do say Newfoundland though.

I'd hate to correct a Canadian, but I think it is really called Newfoun'land.

La culture, c'est comme la confiture. Moins on en a, plus on l'étale!

The name of province is what I disputed and it is typical that Canadians call the province Newfoundland not just Labrador. As he said he was indicating the difference as people might recognize that is in fact where most of the power is generated and is cheaper than on Nfld. They are both parts of one province not a big deal just odd to hear Labrador mentioned as a province.

Back on his thoughts...

Ya I bet the rates are cheaper in Labrador lots of hydro projects up there.

The Lower Churchill's two installations at Gull Island and Muskrat Falls will have a combined capacity of over 3,074 MW and have the ability to provide 16.7 TWh of electricity per year.

KS

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Quote from: Bicknellski on March 05, 2015, 11:51:43 PM

Quote from: armedmilitia on March 05, 2015, 10:50:10 PM

Huh, the Canadian province of ~~Labrador~~ has about those electricity prices. For big customers they go down to almost $0.02/kwh on the nose.
I heard kuwait has power that is $0.01/kwh. And venezuela goes down to $0.0063/kwh (if you use the actual exchange rate). I've got a feeling the latter two countries might be difficult to set up datacenters in, though. Heh.

It is technically Newfoundland and Labrador, rarely do Canadians call Labrador a province they do say Newfoundland though.

I'd hate to correct a Canadian, but I think it is really called Newfoun'land.

La culture, c'est comme la confiture. Moins on en a, plus on l'étale!

armedmilitia

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Activity: 562

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We're going to need a bigger heatsink.

Quote from: Bicknellski on March 05, 2015, 11:51:43 PM

Quote from: armedmilitia on March 05, 2015, 10:50:10 PM

Huh, the Canadian province of ~~Labrador~~ has about those electricity prices. For big customers they go down to almost $0.02/kwh on the nose.
I heard kuwait has power that is $0.01/kwh. And venezuela goes down to $0.0063/kwh (if you use the actual exchange rate). I've got a feeling the latter two countries might be difficult to set up datacenters in, though. Heh.

It is technically Newfoundland and Labrador, rarely do Canadians call Labrador a province they do say Newfoundland though.

Actually, thanks for that question. Canadian here!
I made a mistake when I wrote that (Labrador itself isn't a province), but I meant Labrador the region in particular, as Newfoundland doesn't have the same electricity rates. IIRC St John's charges over $0.10/kwh. Labrador has much better access to cheap hydro power than its island counterpart.

tonygal

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Quote from: armedmilitia on March 05, 2015, 10:50:10 PM

Huh, the Canadian province of Labrador has about those electricity prices. For big customers they go down to almost $0.02/kwh on the nose.
I heard kuwait has power that is $0.01/kwh. And venezuela goes down to $0.0063/kwh (if you use the actual exchange rate). I've got a feeling the latter two countries might be difficult to set up datacenters in, though. Heh.

Kuwait is indeed the place to go. Apart from the nice climate the electricity rates are awesome:
http://www.mew.gov.kw/en/?com=content&id=93&act=view
So if you have connections that enable you to become a "supported industrial company", you end up
with 0.0033 $/KWh. (Note that one Dinar is 1000 fils, not 100 Grin

)

You should probably double your planned consumption in order to keep your gear cool in the 120 deg
desert, but still it sounds like a good plan. (Is there a way to cool miners using fresh water flowing
through heat sinks and being dumped right after? If you check the fresh water rates, that looks
tempting, too..)

Bicknellski

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Quote from: armedmilitia on March 05, 2015, 10:50:10 PM

Huh, the Canadian province of ~~Labrador~~ has about those electricity prices. For big customers they go down to almost $0.02/kwh on the nose.
I heard kuwait has power that is $0.01/kwh. And venezuela goes down to $0.0063/kwh (if you use the actual exchange rate). I've got a feeling the latter two countries might be difficult to set up datacenters in, though. Heh.

It is technically Newfoundland and Labrador, rarely do Canadians call Labrador a province they do say Newfoundland though.

philipma1957

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'The right to privacy matters'

Quote from: armedmilitia on March 05, 2015, 10:50:10 PM

Huh, the Canadian province of Labrador has about those electricity prices. For big customers they go down to almost $0.02/kwh on the nose.
I heard kuwait has power that is $0.01/kwh. And venezuela goes down to $0.0063/kwh (if you use the actual exchange rate). I've got a feeling the latter two countries might be difficult to set up datacenters in, though. Heh.

3 cents a kwatt and a downvolt of an s-3 to .65 watts per gh vs .79 watts a gh and 1ph of them make serious money.

1th would make a 2.37 usd profit a day
1ph would make a 2370 usd profit a day

so with a 1ph would be 2400 s-3's at 50 bucks each maybe at 40 bucks each. so 100 to 120k for 1ph

now in s-5's cost would be say 300 each factory direct for 900 cost 270k

so I am thinking they wrote a software for easy volt and clock of s-3's .

the savings on s-3's over s-5's or sp20e's per ph of hash is huge. they have an interest in getting as many s-3s as they can get. A guy like me at 10 cents winter or 16 cents summer an s-3 is worth zip.

This is why growth is still slow but if some comes out really good like .2watts we may see more growth.

armedmilitia

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We're going to need a bigger heatsink.

Huh, the Canadian province of Labrador has about those electricity prices. For big customers they go down to almost $0.02/kwh on the nose.
I heard kuwait has power that is $0.01/kwh. And venezuela goes down to $0.0063/kwh (if you use the actual exchange rate). I've got a feeling the latter two countries might be difficult to set up datacenters in, though. Heh.

klondike_bar

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ASIC Wannabe

Quote from: soy on March 05, 2015, 10:58:50 AM

Quote from: ?? on ??

Quote from: tss on March 05, 2015, 12:46:43 AM

.23 cents per kwh? really?? as in less than a quarter of a penny per kwh? can that even be true?

it's not. It's $0.023 per kWh. Closer to 3 cents with taxes & other charges.

Could they be near an old nuclear reactor power station? I think rates are low near Three Mile Island and others. I recall on LI the Shoreham reactor saw very low rates in the immediate area but any meltdown threatened a very wide area - so the low rates were to influence locals not to compensate for threat - sorry, I get carried away....

unlikely. most of it is in washington, powered by hydro dams.

nuclear power is generally built close to the cities it will power. hydro dams are often located a distance from any major populations due to the steep terrain and large rivers/streams they need to create power. Its reasonably common for the cheapest electrical rates (and thus datacenters) to be found near these facilities in otherwise largely-undeveloped areas

freedomno1

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Learning the troll avoidance button :)

Quote from: johnyj on March 05, 2015, 04:09:30 PM

Actually mining rigs investment will be the same as bitcoin, buy low and sell high, now it is a good time to buy. A large scale of hash rate increase will not happen due to highly concentrated production and low profit of mining farms. If chip makers make alliance like OPEC to limit the chip production, then mining cost will rise quickly for retail customer

A mining OPEC would have said that was highly unlikely only a year ago but with many firms going bust and the chips getting more advanced and needed to book fabrication time to scale these units, a chip monopoly could become a real thing at a certain point in time.
The centralization of mining farms and factors such as price are leading towards that conclusion at least until the price makes it economic enough to decentralize and have new entrants join not part of that OPEC mining cartel.

johnyj

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Actually mining rigs investment will be the same as bitcoin, buy low and sell high, now it is a good time to buy. A large scale of hash rate increase will not happen due to highly concentrated production and low profit of mining farms. If chip makers make alliance like OPEC to limit the chip production, then mining cost will rise quickly for retail customer

adaseb

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I don't know why anybody is surprised here.

They are buying relatively new hardware such as the S3 and if they only pay 0.02kwh then it worthwhile for them. I got ROI in 40 days with my S3+ that I paid $75 with 0.00kwh electricity. So for them probably paying similar amounts they will ROI within 2 months or so.

After a few months they can always liquidate the hardware on eBay.

The problem is how much are they willing to pay. Most likely not much. I am guessing $50 per S3.

bitcoin4eva

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I guess theyll be getting really cheap electricity. I have the same thing going on right now, at 0.03$/kwh its profitable for me to mine with almost any miners : )

dogie

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Quote from: CanaryInTheMine on March 05, 2015, 12:10:07 PM

Quote from: MrTeal on March 05, 2015, 12:05:40 PM

Quote from: CanaryInTheMine on March 05, 2015, 11:59:24 AM

Quote from: MrTeal on March 05, 2015, 11:46:19 AM

This would also serve to push down global hashrate in the short term. If MBP picks up 15PH/s for a song from people who are operating at breakeven right now, not only do they get a unit (say an S3) that they can run profitably, but during the move they're keeping difficulty increases in check.

It is interesting that they would bother with this though. I would have thought they would be extremely busy getting ready to integrate new Bitfury product into their mines as it is released.

There's just no decent hardware available in the marketplace. Manufacturers slowed down due to depressed btc price. Bitfury announcement doesn't mean a mining product is about to be ready to ship to an end user next week. In fact I think it will be a while before any products ship with latest BF chip. They will mine the shit out of it with first batches of their own chips...

My understanding (quite possibly mistaken) is that MBP is a pretty premier partner of the Bitfury group, and I would have expected them to get pretty early access to new hardware. A lot might have changed since 2013 though, that might not be the case anymore. That's the interesting part.

This project won't be without delays too, I would assume. If they are looking at getting offers now I'd expect it could be a month or more before any significant volume is decommissioned, shipped, installed and running.

As far as I know that relationship existed when a group helped organize mass production of first BF chip. Since then, the new BF entity is different with none of the past relationships in place. The name BF is same, but it's a different beast today compared to the original group. So MBP does not have any tie ins anymore as far as I know.

That matches up with what I've heard. MBP were important in the early days of 'super farms' and make some money investing big in Bitfury hardware, but past that there is nothing special there.

CanaryInTheMine

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between a rock and a block!

Quote from: MrTeal on March 05, 2015, 12:05:40 PM

Quote from: CanaryInTheMine on March 05, 2015, 11:59:24 AM

Quote from: MrTeal on March 05, 2015, 11:46:19 AM

This would also serve to push down global hashrate in the short term. If MBP picks up 15PH/s for a song from people who are operating at breakeven right now, not only do they get a unit (say an S3) that they can run profitably, but during the move they're keeping difficulty increases in check.

It is interesting that they would bother with this though. I would have thought they would be extremely busy getting ready to integrate new Bitfury product into their mines as it is released.

There's just no decent hardware available in the marketplace. Manufacturers slowed down due to depressed btc price. Bitfury announcement doesn't mean a mining product is about to be ready to ship to an end user next week. In fact I think it will be a while before any products ship with latest BF chip. They will mine the shit out of it with first batches of their own chips...

My understanding (quite possibly mistaken) is that MBP is a pretty premier partner of the Bitfury group, and I would have expected them to get pretty early access to new hardware. A lot might have changed since 2013 though, that might not be the case anymore. That's the interesting part.

This project won't be without delays too, I would assume. If they are looking at getting offers now I'd expect it could be a month or more before any significant volume is decommissioned, shipped, installed and running.

As far as I know that relationship existed when a group helped organize mass production of first BF chip. Since then, the new BF entity is different with none of the past relationships in place. The name BF is same, but it's a different beast today compared to the original group. So MBP does not have any tie ins anymore as far as I know.

Topic: MegaBigPower Opens Buyback for Unprofitable Bitcoin Miners - page 2. (Read 5078 times)