Tuesday, June 18th 2013

New ASIC Bitcoin Mining Products Producing 350 GHash/s, from KnCMiner

KnCMiner, a new entrant to join the bitcoin mining hardware community, are pleased to announce their range of state of the art, bitcoin mining machines. Designed in Sweden, the first 2 models, named Jupiter and Saturn, are powered by 28nm ASIC chips and will produce up to 350 GHash/s and 175 GHash/s respectively. The custom engineered ASICs have proprietary technology enabling market leading performance with low power consumption that is exclusive to the KnCMiner line of miners. Calculated with today's value of difficulty and dollar rate, the return of investment could be as short as 4 days.

"Today the bitcoin mining industry use shovels and pickaxes - We will offer them excavators", says Johan Rilegård, Head of Marketing. The interest for KnCMiner products has been truly impressive with orders arriving from all corners of the world. We are very pleased with the support from our customers and this only goes to show that KnCMiner are offering and producing devices that are exactly what the market needs. This overwhelming support proves that KnCMiner are leading the way as the most professional Bitcoin mining vendor in the market.

"Our design expertise together with long term relations with suppliers within the semiconductor industry guarantee the best possible product within the set time frame", said Marcus Erlandsson, CTO at ORSoC.

"With our financial systems background and the engineering expertise brought from ORSoC, our new joint venture will bring efficient Bitcoin mining to more people than ever before, at prices they can afford and with the high levels of service they deserve," said Andreas Kennemar, CEO Kennemar and Cole / CEO KnCMiner.

For more detailed technical information, development updates and videos of current shipping models, please visit this page.

The Jupiter and Saturn models are available to order now at kncminer.com for delivery in end September 2013.
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12 Comments on New ASIC Bitcoin Mining Products Producing 350 GHash/s, from KnCMiner

Very nice, can't help but think this will lower the value of bitcoins overall though!

May take a punt and place an order though.
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This will lower the value of coins even lower imo...
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This make me drool, but I have to say I wish I was still in the Bitcoin game. I nearly have a bitcoin but I find that you need a ton of money to thrown down to achieve. I fear like said above will hurt others in the game to mine for bitcoins, its so difficult now-a-days.
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Prima.Vera said:
This will lower the value of AMD even lower imo...
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I wonder why would some one sold them when they can make same money in four days just running them. And about the miner it self I just can not say that it is the most stupid idea to use PCB as structural support.
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These things make gpu mining obsolete.
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Bitcoin difficulty WILL go up to compensate. That's just how it works.

From the Bitcoin Wiki:
Bitcoin Wiki
The difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. This will yield, on average, one block every ten minutes. As more miners join, the rate of block creation will go up. As the rate of block generation goes up, the difficulty rises to compensate which will push the rate of block creation back down.
I, for one, welcome our new ASIC overlords. It means bitminers will stop buying up all the damned graphics cards off ebay. I've been trying to find a second 5870 on the cheap for a while now.
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xvi said:
Bitcoin difficulty WILL go up to compensate. That's just how it works.

From the Bitcoin Wiki:

I, for one, welcome our new ASIC overlords. It means bitminers will stop buying up all the damned graphics cards off ebay. I've been trying to find a second 5870 on the cheap for a while now.
What do you consider cheap on the used 5870s these days?
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When 5870's are still selling for $150 on occasion while you can get the far superior gaming gpu of a 7850 for the same price....

I honestly am surprised and happy to see this type of article at tpu.

There are some pretty massive jumps in difficulty visable. This makes me think that bitcoin ASICS have been around for about a month now. Still though, gpu mining is still worth it if you have the gpu's already. I wonder how much longer it will be though. I give it 1-3 months.
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I picked up my current 5870 for $130. Average price seems to be about $150-160. The 7850 is approximately the same price, but will be, of course, new. Seeing as how it wasn't a huge upgrade (typical gaming performance wise) over my 4870/4850 combo (about $50 and $40 respectively), I expected it around the $90-100 mark. Less for it being a single card, more for its full OpenCL and DX 11 support.

Theoretical benchmarks seem to indicate performance should be pretty close.

I suspect why it's being bought and sold for so much now is that it's a old (and therefor supposedly "undesirable" card) that's compatible with a lot of distributed computing projects (Folding, BOINC, Bitminers, etc). Lower price than the $170ish the 6970 and about the same performance.
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The Von Matrices
This company is exploiting people if they are advertising a payback of 4 days. There is no way in hell that the difficulty will be even on the same order of magnitude as today in September 2013. A difficulty of 200-500 million is more reasonable for September 2013, and that means a payback of more than a month. Plus, given the shadiness of these ASIC vendors, I wouldn't be surprised if you got your order delayed many months or even outright cancelled before shipping. I have an order for the Butterfly Labs 5GH/s miner, but it's already significantly delayed and I doubt I am the only one with this problem. These ASIC miners would be great if the vendors could keep their promises. If they get delayed even a few weeks then you could potentially lose all profitability.

As far as the viability of GPU mining, it is already obsolete for many people, and this is even if you already have a card. There is no reason to mine with a 40nm GPU (5000/6000 series) today if you have expensive electricity. It only makes sense for me since electricity is cheap where I live (7.7c/kWh). I calculated that I should turn off my 6970 when difficulty reaches 30 million, which should happen within a month. My 7970s (and all 28nm GPUs) should last a little longer, but I calculated a difficulty of 60 million being unprofitable, which would be sometime around mid August if the difficulty trend continues. Look for a flood of GPUs on the market in the coming months due to this.

As for the person looking for a second 5870, why not just buy a faster single GPU? The 1GB of VRAM on the card is what will limit your performance, and a second card won't help that.
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