ASIC (App-Specific Integrated Circuitry) is right now revolutionizing bitcoin mining. These circuits and the big boxes that are running them will be absolutely devastating soon to all existing mining techonology… Yes, including those huge $50,000 room-filling rigs that can mine 500 GH/s.
Why? Because a single box (like this one) that runs on one single power supply can produce 1500 GH/s! Sure, it costs $30,000, but the electricity needs are far smaller and the output is far larger… It’s nothing short of a game-changer for all bitcoin miners everywhere. They’re all going to have to evolve or perish as the market changes on them rapidly this year.
The first ASIC rig has already hit the market. For $1599, Avalon has apparently sent out their first batch of 300 rigs, and the miners who received them can confirm they are seeing 65 GH/s or better. At current difficulty & a $0.16/w electricity rate, that comes out to something like $265.68 USD in bitcoins every 24 hours, making a break-even on their money a mere 5 days!
Of course the difficulty will go up as more miners flock to this tech; and then again when the next halving of the output blocksize happens sometime in the future. But for now, if you want to pick up some bitcoins, ASIC is clearly the way to get in.