Avalon ASIC Chips – News about Batch #3
Breaking News on Avalon ASICs: Batch three may or may not get sold, but will officially cost 75 Bitcoins if it does, and start shipping at the end of April.
75 bitcoins is currently = $5,415 USD on MtGox. Ouch! (They sold the last batch for $1,299 USD.)
They said all of this tonight in a newsletter update and that they determined this price by taking “the current mining difficulty which at the time of writing, just got readjusted to about 6,695,826. We take that number and multiply it by two ( predicting the network speed will double. ) and calculate the return in a thirty day window, which is about 75 bitcoins.”
The tricky part, however, is that they have said that “it is up to the community” if they are going to sell batch three or use them to farm with themselves! They do not give a date precisely, but at the bottom of the newsletter they said in large letters: “Decide on 8:30AM EST, 3/25/2013.” (Tomorrow.) -So there will be talks all night overnight on their FAQs page that decide the fate of this last shipment. Continue reading
ASIC Chips, made just for one purpose only.
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.