Review Category : Mining

 
 

ASICMiner Share Price Doubles Ahead of Gen 3 Tapeout Announcement

ASICMiner, one of the first companies to successfully deploy bitcoin ASIC mining hardware in 2013, has seen its share price double over the last month. The gains come ahead of the expected Jan 20 tapeout date for ASICMiner’s 3rd generation hardware indicated by the companies CEO in a December announcement. As multiple consumer ASIC companies prepare to ship inventory and private mining operations increase in scale, often with equal or superior hardware, meeting schedule expectations will be paramount to ASICMiner’s future. As one of the first successful ASIC producers, AM was able to maintain a significant hardware advantage through mid-2013, …

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Bitcoin 0.8.6 Released, Updates to Block Size Limits, Free Transactions, OSX Bugs

Bitcoin v0.8.6 was released yesterday, offering updates to existing restrictions on the size of free transactions and full blocks, as well as a series of fixes for bugs in certain node transmissions and OSX usage. The update follows the 0.8.5 release in September and precedes the much-anticipated 0.9 release. Free Transaction Limit Changes In an effort to make free transactions more commonly accessible, Bitcoin 0.8.6 lowers the maximum size of free transactions from 10,000 bytes to 1,000 bytes and eliminates the minimum 0.01 XBT output requirement. By lowering the maximum size of a free transaction to 1,000 bytes, there is …

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ASICMiner Gen3 Hardware Announcement Sees Muted Market Reaction

Friedcat, the pseudonymous CEO of ASICMiner, made his first direct announcement in approximately a month last week, offering updates on product sales and upcoming hardware developments. Despite signs of progress towards upgraded hardware for the industrial mining company, investors have proven unimpressed, leaving the company’s stock price near historic lows. ASICMiner was one of the first companies in the world to reliably sell and deploy bitcoin mining ASICs, but has long since lost that market leadership – a title it is working to reclaim. Still mining with first generation 130nm ASICs, the company has announced efforts towards second and third …

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Familiar Price Gains, Updated Infrastructure: A Look at the Bitcoin Economy (Part 2)

As initially discussed in Part 1 of this series, bitcoin’s exchange rate has garnered significant attention for its recent climb, but far less visible is the dramatic growth in the infrastructure underlying bitcoin economy itself. In continuing with the theme of Part 1, this report will look at the economic evolution behind bitcoin’s growth since the last time exchange rates climbed this dramatically. Adoption In the beginning of this year, the notion of a business accepting payments in bitcoin – particularly at a physical store – was relatively unheard of. When bar/nightclub EVR (co-owned by Charlie Shrem of BitInstant) in …

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New ASICMiner Financial Statements Offer Performance Insight

ASICMiner, one of the best-known bitcoin companies to issue BTC-denominated equity, released their latest earnings update last week. This was the second such report from the company, with the first released in late July. As both were issued via bitcoin forum threads with links to external files, this report is intended to offer context and additional clarity around those figures. ASICMiner (AM) initially raised capital by means of an equity offering in 2012, with share priced at 0.1 BTC each. The company generates income by mining directly and indirectly, as well as selling mining equipment to others. Previously a favorite …

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HashFast Open Sources Bitcoin ASIC Interface Protocol

Today HashFast announced they are open sourcing the interface protocol used for controlling their bitcoin mining ASICs. Open sourcing this design gives significant insight into how their bitcoin miners operate and provides a platform for driver developers. More users collaborating in driver development should allow for a more diverse set of options, and a better experience for HashFast customers. In July HashFast announced a partnership with Uniquify to design the 400 GH/s “Golden Nonce” ASIC, and on September 5 they announced tapeout of their chips with Taiwan Semiconductor. In order to prepare driver developers for the ASICs mid-November arrival, HashFast …

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Bitcoin Network Doubles to 2 PH/s in Four Weeks; the First 1 PH/s Took 4.7 Years

In mid-September, after 4.75 years in existence, the bitcoin network reached an estimated hash rate of 1 petahash per second. Remarkably, the second petahash took just one more month, pushing network speed over 2 PH/s this past weekend, or 80x the speed on January 1 of this year. This growth is primarily attributable to new ASIC bitcoin miners from KnCMiner and BTCGarden recently being added to the network, and is a trend that is not expected to stop any time soon. KnC was the first manufacturer to demonstrate a 28nm ASIC bitcoin miner on September 30 and started shipping to …

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TGB 3Q Review & 4Q Outlook Now Available

The third quarter of 2013 proved to be one of significant transition for bitcoin. After the remarkable increase in bitcoin’s price and public notoriety earlier this year, the last three months have provided a much-needed regrouping period. New information about issues at existing exchanges became available and dozens more have or will soon come online. Security of the bitcoin network grew dramatically as ASICs increased the network speed exponentially, while a host of new entrepreneurs and investors continue to support the market with ever-increasing infrastructure. The result will be a more structurally sound ecosystem as bitcoin enters its next wave …

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Avalon Announces Gen2 Specs And 7.5 TH/s Prize for Open Source Board Design

Today BitSyncom, the bitcoin company known for producing Avalon miners, announced details about their second generation chip, as well as plans for a contest to create an open source PCB (printed circuit board) design for their chips. The new chips will use a 55nm technology and run 4x as fast as their first generation 110nm chips. The winner of their open source contest will receive 5,000 chips, totaling 7.5 TH/s overclocked. Avalon will be selling both fully-assembled units as well as bulk chips, similar to their strategy for first generation products. While exact pricing has not been determined for the …

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CoinTerra and HashFast Sell $17M of Bitcoin Miners, Open Second Batch Sales

CoinTerra Today CoinTerra announced that it will begin selling its second batch of bitcoin ASIC miners for January delivery. CoinTerra is led by Ravi Iyengar, previously the lead CPU Architect at Samsung Corporation prior to founding CoinTerra. He has recruited a robust team of specialists and advisors including cryptography expert Timo Hanke and bitcoin expert Tuur Demeester. Their first batch is scheduled for delivery in December and included 2 TH/s (2,000 GH/s) TerraMiner IV units for $13,999, as well as individual 500 GH/s chips which were sold in bulk quantities. Using a similar pricing scheme as Bitfury, who offered customers …

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