Mining rig hardware

By | 06.01.2018
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In the two previous articles of this series, Dario Di Pardo listed the highs and lows of having spent many thousands of dollars on pre-ordered bitcoin mining hardware and then having to endure delays, poor communication and broken promises, as some of the companies failed to provide the promised equipment in time.

In this last part of the series (see one and two here), mining rig hardware, Mining chemical companies Pardo tells CoinDesk which companies finally came good on their promises and which left him wishing he'd just spent his bucks on bitcoin. Di Pardo told CoinDesk, if he had one learned one thing from the experience, it was: ¨No cat longwall mining pre-ordering for this guy.¨


Vendor: Black Arrow
Product: Mining rig hardware X-3 (converted to bare chips)
Price including shipping: $4,978
Order date: 18th November 2013
Anticipated shipping date: 24th February 2014
Actual shipment date (chips): 11th July
Delay: 5 months
Status: Converted to ASIC chips

As somewhat anticipated, Black Arrow missed their revised shipment date of 8th May.

According to the company, they have been experiencing issues concerning the miner’s backplane, which are causing almost two months of additional delay.

Black Arrow recently announced the issues mining auction be resolved and that both X-1 and X-3 miner orders would be dispatched by the end of July.

Together with the company’s latest news update, the option to convert pre-ordered miners into bare ASIC chips was provided, implying that each X-3 order could be exchanged for 100 ASIC chips, whereas you would get six chips for an X-1 order.

When a mining company starts offering a miner-for-chips exchange, it might be a good idea to go with the offer, or you could end up with nothing at all, as I learned from my experience with HashFast. With this in mind, together with the now huge delay in shipment and the fact they are not increasing compensation further to match competitors’ prices at shipment time (which they said they would do earlier), I decided to go for the chips.

Obviously, one cannot mine with chips alone. Fortunately, Technobit, a Bulgarian company, would be capable of turning these chips into mining rigs, where each 400 GH/s rig would contain four ASIC chips.

Because Minersource, a mining gear and co-location company as well as Black Arrow’s US-based reseller, organized a group buy for all customers who converted their order into chips, the board assembly at Technobit can now be purchased at a discount. Even more, they managed to provide us a deal where each board assembly can be alternatively paid for with four additional chips.

So with some money on top for chip coolers, mining rig hardware, controllers and power supplies (controllers and power supplies not necessary when opting for co-location), I would get a 5 TH/s miner with a price tag that matches today’s stock prices, instead of the now overpriced 2 TH/s X-3 miner (excluding the 1 TH/s compensation Black Arrow would send after all current orders have been shipped).

Technobit is currently in the process of assembling all miners for the group buy, which will take about two weeks to complete.

Although none of the X-3 orders have been currently shipped, some X-1 customers are now reporting receiving their hardware.


Vendor: HashFast
Product: Sierra (1.2 TH/s)
Price including shipping: $6,696
Order date: 18th November 2013
'Guaranteed' delivery date: 15th February 2014
Status: Bankruptcy announced 7th June (no product or refund received)

Not surprisingly, mining rig hardware, HashFast entered bankruptcy under chapter 11 on 7th June.
As a result and most unfortunately, when that ship went down, my money went down along with it.

Because I initially wasn’t included in the list of creditors the company presented to the bankruptcy Trustee (no surprise there either), I filed my claim online through the court’s site.

I can only hope at this point that as a result of the reorganization process, I will get at least some of my money back.


Vendor: Virtual Mining Corporation (VMC)
Product: Fast-Hash One Platinum Edition (1 TH)
Price including shipping: $6,479
Order date: 24th November 2013
Anticipated shipping date: January 2014
Status: Refunded 23th June

In addition to the Wood Law Firm investigation, Virtual Mining Corporation and its parent company Active Mining Company are now under investigation by the Missouri Secretary of State because the CEO of both companies, Kenneth Slaughter, wasn’t following proper procedures when soliciting investors.

Maybe as a result, shortly after this announcement the company’s website went offline and is now only displaying a refund form intended for former customers.

After applying for my refund using this form, I almost immediately got the order amount transferred to the bitcoin address provided.

Although glad I made it out if this adventure with only some minor remaining health issues, I feel sorry for the many customers still waiting for their money.

If the company will manage to ever get back on its feet, is yet to be seen.


Vendor: Bitmine
Product: CoinCraft Desk 1 TH/s (+ 0.4 TH/s compensation unit)
Price including shipping: $5,758
Order date: 28th November 2013
Anticipated shipping date: February, week 1
Actual shipping date: 2nd April
Delay: 7 weeks and 2 days
Status: Miners performing well

Bitmine has manufactured some sturdy mining hardware, with both the 1 TH/s Desk and the 0.4 TH/s compensation unit I received hashing continuously and flawlessly for over three months now.

However, because of the delays in shipment of the CoinCraft Desk and CoinCraft Rig that resulted in many disappointed customers, the company is struggling to keep afloat.

Due to the many refund requests which caused a shortage of funds, Bitmine is now postponing further refunds to customers till as far as October, much to the their frustration – a similar situation CoinTerra customers have been facing.

To raise the necessary funds to survive, the company is now offering hosted mining plans and a revised, lower priced 1 TH/s CoinCraft Desk.


Vendor: KnCMiner
Product: Neptune (converted to 3 TH/s Jupiter)
Price including shipping: $10,175
Order date: 2014-01-07
Anticipated shipping date: Q2 2014
Actual shipping date: April 29th
Delay: None
Status: Miner repaired

The repair process of the seven broken boards was fairly smooth and a few days after sending back to KnCMiner the broken ones, I received new boards – properly packed this time.

The 28nm Jupiter miner I took in exchange for my Neptune order now hashes away steadily at about 3.1 TH/s while consuming around 3,800 watts at the wall, which averages out to about 1.22 W/GH/s.

The new 20nm Neptune miner that has been shipping as of the end of June, hashes at around 3.3 TH/s while only consuming half the power per gigahash than its younger brother does.

Despite the efficiency improvement bitcoin mining usb miner the fact that Neptune customers – at least those who took the time to read the offer’s small print – will additionally receive a compensation unit in August, I don’t think I made too big of a deal when converting my order after all, as I got the Jupiter rig two months earlier.


Vendor: Alpha Technology
Product: Viper (Scrypt) Miner (250 MH/s)
Price excluding shipping: £5,450 ($8,984)
Order date: 2014-01-10
Anticipated shipping date: July 2014
Delay: None

Alpha Technology eventually announced further increasing the performance of is data mining a software available Scrypt miners, mining rig hardware, to match competitor products at shipment time.
The 18 MH/s Viper will now be performing at a minimum of 50 MH/s, whereas the 90 MH/s miner will be hashing at a minimum of 250 MH/s.

While approaching the July shipment deadline, the company went awfully quiet.

Whether this will prove to be a positive thing, has yet to be discovered.


Vendor: CoinTerra
Product: TerraMiner IV 2 TH/s (converted to 2x 1.6 TH/s)
Price including shipping: $7,253
Order date: 2014-01-12
Anticipated shipping date: May 2014
Actual shipping date: 29th May
Delay: ‘None’
Status: Software for mining to 2x 1.6 TH/s miners

After still not getting any replies to my emails I sent to the Arctic mining company support team asking for a (partial) refund, I took a hint from one CoinDesk commenter and decided to call them instead.

The experience turned out to be pretty similar to participating in a telephone game where you’d have to be the 100th caller in order to win a prize, except that you’d probably win said prize sooner than someone from CoinTerra actually answering the phone.

However, when you get a hold of somebody eventually, you realize the company has some great support representatives working there who really care about your case.

But as time IS money in this business, the company really ought manga mining expand its support staff in order to limit customer frustration.

After a long period of mailing mining rig hardware calling back and forth I took the presented offer of getting an additional Mining rig hardware IV (1.6 TH/s) for an extra $1,000. Additionally, I opted for the cheaper (ground) shipment option instead, to reduce the extra costs.

Getting two miners for a total of $7,000 excluding shipping costs wasn’t the best offer after all, as a few days after I accepted the deal, you could buy a single, now in stock TerraMiner for $3,000.

My pre-order was finally sent out on 29th May, 7 weeks after they began shipping from stock.

After about 10 days of operation one TerraMiner broke down and had to be sent back for repair. As a result, I lost about a month of (precious) mining time from this machine.

To this day, the hashrate of both rigs combined remains unstable, varying between 2.7 and 3.0 TH/s.


Vendor: Bitmain
Product: AntMiner S3 batch 1
Price including shipping: 0.75 BTC
Order date: 2014-06-30
Anticipated shipping date: 20th July
Actual shipping date: 20th July
Delay: None
Status: Hashing

To discover what all the fuss was about, I decided to order the latest AntMiner from Bitmain.

The S3, a product that has been selling like hotcakes since its release, reaches mining truck lighting up to 441 GH/s while consuming merely 340 watts from the wall.

No surprises, no delays, no tricks, but plain getting what you paid for, as you would expect from any other decent company.

Bitmain even offered compensation in the form of a 10% coupon or seven percent refund, because actual specifications were slightly off initial specifications.

Mining image via Shutterstock

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KnCMinerMiningHashFastAlpha TechnologyBlack ArrowBitmain

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$46k Spent on Bitcoin Mining Hardware: The Final Reckoning

Here is the best mining rig that every miner should have in this days, at least this is what i will do 🙂 I have selected the BEST GPUs to mine that have a good. The ASIC mining hardware manufacturing industry has so far largely been dominated by Chinese manufacturer Bitmain, Bitmain’s leading mining rig. Dario Di Pardo spent $46k on bitcoin mining hardware. $46k Spent on Bitcoin Mining Hardware: The Final Reckoning. turning these chips into mining rigs. Ethereum & GPU Mining Rig For Sale - New Mine is one of the leading mining companies in the GPU rig building company space. We build GPU mining rigs for .

Dario Di Pardo spent $46k on bitcoin mining hardware. $46k Spent on Bitcoin Mining Hardware: The Final Reckoning. turning these chips into mining rigs. Through our supplier network Mining Rigs Australia are able to get our hands on mining hardware such as the: Antminer S9 Antminer D3 Antminer T9 Antminer L3+ These. The ASIC mining hardware manufacturing industry has so far largely been dominated by Chinese manufacturer Bitmain, Bitmain’s leading mining rig.


The ASIC mining hardware manufacturing industry has so far largely been dominated by Chinese manufacturer Bitmain, which has sold equipment equivalent to about 60% of the current hashrate. However, several reputable companies have made promising announcements lately about entering the ASIC mining hardware industry with cutting-edge new equipment. 

Bitmain’s leading mining rig, the Antminer S9, uses a 16nm process to make a chip that is still the world’s most efficient bitcoin mining solution for the consumer market. Although S9s are sold worldwide, and account for the majority of Bitcoin’s hashrate, Antminer will only accept bitcoin cash (BCH) for their products. Packed with 189 chips each, the current batch of S9s which are due to ship on the 21st of January, sell for $1,415 worth of BCH each, and deliver a respectable 13.5 terrahashes per second (Th/S).  

Bitmain’s tight grip on the market may be shaken up, however, with new entries from Japan, China and Russia accepting pre-orders for their products — with some saying their new rigs could be mining as early as December.

The first company to announce plans was the Russian Mining Company (RMC One). Co-founder Dmitry Marinichev is best known as Russia’s Internet Ombudsman and a technology advisor to Russian President Vladimir Putin. Over the summer, RMC One ran a successful ICO and raised a reported $37 million worth of bitcoin and ether to fund the development of its mining solution, which they call the Sunrise S11i. Although the 16nm process chips are still accepting pre-orders, the company claims that the S11i will provide an impressive 22.6 Th/s using only 2.3 kW, due to the large number of chips that are inside each mining rig, giving it the best-in-class efficiency.

— RMC One's Sunrise S11i

However, RMC One is only selling their rigs for $1,600 worth of their RMC tokens, which must be bought first for those who did not obtain them in the ICO. Also, in order to use one of the Sunrise S11i, miners must join the RMC pool, which ‘charges’ 4.6 Th of the 22.6 for participation, which leaves the owner with only 18Th/s. While it may deliver more hashes for the dollar, power requirements for this rig may be too hefty for most miners.

Chinese manufacturer Halong Mining announced its flagship DragonMint 16T miner during the Thanksgiving weekend, emblazing it with a Dragon logo similar to the Dragon’s Den logo used facetiously by the Bitcoin core development community and their supporters. Shipping in March 2018, Halong claims the DragonMint 16T will be the world’s most efficient Bitcoin mining rig, delivering 16 Th/s each and running 30% cooler than Bitmain’s S9. The  company says its upcoming product is the culmination of around $30 million dollars and 12 months of research and development by over 100 developers and technicians.

— Halong Mining's DragonMint 16T

A video on YouTube shows the test results for the 16T, and Blockstream CEO Adam Back — the inventor behind the mining process that Satoshi used to create bitcoin mining — claimed he has viewed the miners in action, stating “I can confirm I have seen DragonMint's operating in person, they are very real, specs as advertised. This is huge, biggest Bitcoin news this year.” Halong is accepting orders available for international shipping for five or more 16T units per order and accepts payment in Bitcoin.

Within a day of DragonMint’s announcement, another Chinese mining hardware company, Ebang, announced it will soon be launching the E10 line of 10nm process ASIC chips. Specifications of the upcoming model are still scarce at press time, but the company has sold earlier lines of ASIC hardware before based on a 14nm process. The company offered four models as recently as this year and their E9 Plus 9T model sold for $1,250 offering 9 Th/s.   

The largest investment in ASIC mining hardware by any company to date, however, was that from the GMO Group, the largest Internet Service provider in Japan, and owner of the country’s leading Forex market exchange and bitcoin exchange GMO Coin. According to GMO Group president Masatoshi Kumagai, the company plans to invest 10 Billion yen, or about US$8.9m, over the next few years on mining hardware.  

Planning to manufacture a wide range of chips and mining rigs for both their Scandinavian mining farm operation and for consumer sale, the company is currently in research and development for multiple lines of ASIC mining chips, including those with 7nm, 5nm, and 3.5nm processes. A full launch of the new business wing is planned for the first half of 2018, although GMO Group has not said if it will sell the product to its consumers first or mine for itself with its new technology.

Japanese financial services giant SBI Group is another organisation making major investments in all corners of the Bitcoin world, including mining hardware. According to its bi-yearly financial securities report, SBI Group plans to expand quickly into the cryptocurrency space with eight new business ventures. The report reveals plans for a wide range of Bitcoin and cryptocurrency products and services, and to eventually become a one-stop shop for all things Bitcoin.

The Group already offers fintech products for an impressive financial ecosystem consisting of securities, banking and insurance products. SBI President and CEO Yoshitaka Kitao expects that cryptocurrencies will soon become a part of that ecosystem, and recently disclosed that the company is "pursuing synergies between [its] current financial ecosystem and [a] new financial ecosystem based on cryptocurrency."

The plans call for the establishment of a dominant cryptocurrency exchange platform, amid other platforms, based on the ‘customer-centric principle.’ To supply the exchange with enough inexpensive coins to do so, the plans state that they must “acquire cryptocurrency share through mining, in order to stabilize the market." However, there has been no word on when they will start manufacturing mining hardware.

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