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Following last week’s report of Avalon ASICs arriving in China, the first European batch of 10,000 Avalon ASICs arrived in Switzerland today. These ASIC chips are customized components used in bitcoin mining, and require being set in PCB boards before they can be used. Each Avalon ASIC chip runs at 282 MH/s standard clock and an estimated 300 MH/s overclock. The chips will now be shipped to customers to be set in PCB boards themselves, or to companies such as Burnin who sets them in PCB boards as a service.
Zefir, an organizer of a group buy, posted pictures on the bitcointalk.org forums. This is the first of a total seven batches (10,000 chips each) organized over a two week period in April. The order was originally placed on April 16th, arriving 99 days later. Avalon’s bulk pricing placed the chips at 0.078 BTC per chip, and Zefir added an addtional 9.9% fee for his service, placing per chip cost at 0.086 BTC. There is an additional 10% fee for tax and customs, plus shipping and a flat fee of $20 per order. A safe estimate places total per-chip cost at 0.1 BTC.
Chips are now being packed for delivery to customers. Larger orders can expect trays of chips, while smaller orders will be packed in small ESD bags. Zefir expects to spend the night organizing orders before driving to Germany for shipping in the morning. Bitcoin difficulty recently skyrocketed to 31,000,000, a 62% increase over the last 30 days – and it doesn’t seem likely to slow down soon.
Image from mining.thegenesisblock.com
“A safe estimate places total per-chip cost at 1 BTC”, I think you wanted to say 0.1 BTC?
Thank you Jeremie, this has been updated.
I just bought a 400GH/s miner for October. I got a feeling I’m screwed :/
why scrued, u think total hash rate would go over a 1000TH/s by end of year?
Unfortunately with the current monthly difficulty (MM) increases of 60% and an unsustainable exchange rate currently at $90, coupled with a manufacturer flooding the market with high-end miners, October will be the tail-end of a wave that will render my machine obsolete in November. Only miners in the TH/s will survive in 2014. At that point, 21 million coins will be reached pretty quickly, and it’s game over. So yes, screwed
. Hopefully I can sell my machine on eBay to break even 
.
daaeium
yeah, I’ve been trying to do my calculations all day to estimate difficulty change in the time window November to February, but still not sure.. I think the recent 62% difficulty increase which is used in the mining dashboard (tool on thegenesisblock), is unsustainable for a period more than 3 months. If you look at the cloudhashing.com site, they assume a total hash rate of 3000TH/s max in september 2014 which equals to a difficulty of 419mil, while the 62% would lead to a 200,000TH/s by then! And I mean none of the existing ASIC hardware would ever make a positive return if implemented starting November. (using current btc/dollar rate) so maybe it’s not that bad
I want to order a kncMiner saturn which I assume to implement starting November, in that case using the mining dashboard tool I would still get a positive return using a 42% increase in difficulty. With 42% the total hash rate would be around 1900TH/s end of January next year, and 2700TH/s end of February, 3900TH/s end of March.
These are increases of around 1000TH/s per month, increasing exponentially after that. I’m hoping it’s safe to assume that this will not be the case, so I’m guessing I should order it
I hope you’re right. At currentprojections, mining profitability seems impossible in the near future for average folks. That really sucks if it won’t be sustainable. Hopefully something changes and hopefully chip manufacturers aren’t just out to make a quick buck. It’s got to be a world record for how quickly such expensive technology becomes obsolete
You are obviously an idiot that should not have put his money into bitcoin….. it is totally clear you know nothing about the subject/
ESP.. the part”:
“At that point, 21 million coins will be reached pretty quickly,”
21 million coins will not be reached until 2140.
Now GO AWAY and do some research……
LOL you’re an asshole! You should GO AWAY from the BTC community. You’d fit-in well on Wall St. trust me. How about help and share your knowledge.
You are forgetting 2 things:
1. The current 62% increase in difficulty is clearly not sustainable. All of these high powered ASIC machines are not coming online all at once. As the difficulty increases, these first gen ASIC machines will slow down which will also slow down the difficulty increase. Of course this will continue with every next generation of ASIC machines.
2. As new machines come online, old machines leave because they are not profitable. All of those GPU miners and entry level ASIC machines will be turned off because electricity costs will eat profits.
So for the time being BitCoin will be profitable for quite a while even with these first and second gen ASIC machines.
Hope so… It’s not looking good ATM.
Look at the hash rate and total inventory of devices coming out before KNC (I bought a Saturn BTW). Nothing can compare unless youre buying BFL $20,000 monster. Won’t be many of those….
Even with 100% uptime for all of those first ASICs from Avalon, BFL, etc…, you will still make a small profit, and probably your investment money back, using a Jupiter or a Saturn. Now, within 3 months, you’d better sell that sucker or youll be stuck with a quickly depreciating asset.
Just remember that this is all based on risk and speculation. You knew this would be a risk right up front – money doesn’t simply grow on trees. You can choose to hang onto your BTC until it appreciates to a value that you make your money back or you sell as soon as your machine hits a level where your rate of depreciation is unacceptable.
BTC likely won’t depreciate in value any time soon, but the difficulty will continue to increase. Be smart about your choices, crunch some numbers, and start planning the date you plan to exit. Unless you’re building these ASICs yourself or you have the capital to create huge mining farms, you will never get rich off this. Although, trading on the BTC market might allow non-miners the chance to make a bit…
Partly true, BFL’s 500gh/s miner doesnt have a positive ROI. KNC is the only manufacturer out there with the potential to make a ROI. The great thing about all these 4.5gh/s and 18gh/s boards been manufactured is the time before they are redundant, which isnt too far away.
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Just reading up on the subject and an admitted noob still, but I’m wondering if you had $3000 to purchase a machine, what would you buy (or would you buy at all) if you had to place an order within a week?
I’m fairly n00b. I would say $3000 might not buy you enough ASIC power to be competitive come November ’13. I’ve got almost $10K invested and I’m nail-biting. Litecoin mining with GPUs might be better, if that crypto gains more popularity.
a clue.
Well buddy, its OCTOBER and if you have a 400Gig machine ON HAND, i bet your pretty happy with yourself. Coinwarz says youre making about 150/day and im wishing i Had a 400Gig machine ON HAND. =-)
On the contrary, sir. I got a 500 GH/s machine about 2 weeks too late (thanks KnC). Just fired it up the other day and only making 0.5 BTC per day. Bitcoin mining is officially dead when you can’t mine with a $7000 machine – I don’t care what anyone says. It could only be profitable now if BTC rose to over $250, but it’s on a download trend.
Anyway, hindsight is 20/20: Back in July BTC was $80. If I had bought $7000 worth of BTC, I would have doubled my money a couple days ago, instead I’m in debt. Moral of the story: forget mining, just buy/sell BTC. Buy when BTC drops to around $100 again. It’s been twice in one year so far that BTC has broken $200. It will drop and rise again. Just keep doubling your money. Mining is for ASIC manufacturers and dreamers, at current difficulty. PEACE.
Certainly 60%+ is not sustainable but even so, the market share seems to look to continue grow at astonishing rates
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