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Working Avalon ASIC Confirmed, Hashing At 68 GH/s

Photo taken by Jeff Garzik

Jeff Garzik has just received the first ASIC mining computer to hit the consumer market, and has confirmed on Bitcoin IRC that the machine functions as expected. Even after Avalon announced that they had shipped their ASICs out to customers one and a half weeks ago, many continued to doubt Avalon’s claims, but now the Bitcoin community can finally rest easy knowing that the long-awaited ASICs are indeed real.

Word from Garzik first came out a few hours ago, when he wrote a blog post confirming that he received the package and showing off a few pictures of the device and its packaging. An hour later Garzik followed up with another post, detailing the hardware’s modularity and providing a brief three sentence hardware review: “No wifi antenna included. No paperwork or instructions. Power cable is for Chinese “I-SHENG” power outlets, not American. Easy oversights if someone is rushing to ship it, I suppose :)” Fortunately, Avalon founder Yifu Guo confirms, the rest of Avalon’s customers will get a standard US power cable as expected.

Now, only several minutes ago, Garzik followed up with a message on Bitcoin IRC announcing the news that Bitcoin enthusiasts everywhere have all been waiting for: “mining!”, soon followed by a statistic: the machine’s average hashrate is 68252.65 MH/s. This is about thirteen percent higher than the 60 GH/s that Avalon had originally promised, and with the state of the Bitcoin network as it currently is is no small sum; given the current total network hashrate of 22000 GH/s, Garzik will be able to earn an average of about $240 per day. Avalon’s remaining customers will also be able to enjoy highly lucrative rewards, although not quite as extreme; once all of Avalon’s 20 TH/s are added into the picture, each individual ASIC will earn about $120 per day (paying for itself in slightly under two weeks), although revenues will decrease further when Butterfly Labs’ customers get their hands on their own ASICs – an event which, given Butterfly Labs’ current shipping projections is likely to occur around the beginning of March.

Garzik has also made additional comments on the machine’s functionality; “once mining started it was very loud,” Garzik writes, “fans full blast, when initially powered on. The the fans flow down, and the noise cuts way down.” He also spoke positively about the web interface, and for mining aficionados posted a detailed cgminer output log at http://pastebin.com/g4BhvCXK.

ASIC mining will likely take months to reach its full potential; Avalon is not releasing its next batch until early March, and Avalon and Butterfly Labs may well be working nonstop for the foreseeable future as more and more customers line up to buy their own. The Bitcoin ASIC revolution, far from nearing its finish line, is now only beginning.

BTC: 1FxkfJQLJTXpW6QmxGT6oF43ZH959ns8Cq

LTC: LaBhvWiAP7msku6w8QSQ5G7omVWMF3uxJC

By

Vitalik Buterin is a co-founder of Bitcoin Magazine who has been involved in the Bitcoin community since 2011, and has contributed to Bitcoin both as a writer and the developer of a fork of bitcoinjs-lib, pybitcointools and multisig.info, as well as one of the developers behind Egora. Now, Vitalik's primary job is as the main developer of Ethereum, a project which intends to create a next-generation smart contract and decentralized application platform that allows people to create any kind of decentralized application on top of a blockchain that can be imagined.

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  • Marco Antonio

    Amazing!

  • Anonymous

    68 Ghash/s is computationally equivalent to nearly 100 AMD HD 5970 GPUs — each of which cost several hundred USD dollars and consume in the range of two orders of magnitude more electricity than this ASIC does.

    • atwas911

      And if you had created this device.. Would you sell it?

  • http://www.bit4cash.com Dalkore

    Well we can expect a rush of pre-orders tomorrow and BFL is likely sweating a little with a competitor already out the gate. This competition is good for everyone. Now they will be forced to provide better products and services or risk alienating the customer base. Welcome to the next generation of mining. Hello Dave….

  • Bob Yehrmahm

    Finally, consumer ASIC miners. One thing to not: the BUtterfly shipping projections may be a total crock. For about six months, they keep claiming that they will begin shipping the following month, only to move the date back time and time again. Kudos to Avalon for delivering a real product, and being first. Will Butterfly EVER deliver, and will it be in time to have any impact?

  • Antonio

    quando in Italia??

  • Anon

    Damn, this is hard to believe… and very impressive. I’m going to have to consider one for myself.

  • http://www.FreeBitcoins247.com Free Bitcoins 24/7

    It absolutely insane the Return on Investment that these machines are going to make people. Even when the second batch comes out it will still only take 1-2 months of them to breakeven.

  • http://twitter.com/iAndrewmane Andrewmane

    Impressive, but how much is your electricity bill a month??? How much profit are you making, cos your electricity bill must be a killer.

    • http://www.facebook.com/profile.php?id=826060262 Michael Bailey

      actually, the avalon asics only use around 400W of power.

      • http://twitter.com/iAndrewmane Andrewmane

        What about the TOTAL wattage in a month?

        • Ian Sebastian

          400W full bore is 288 kWh in a 30day month at 12 cents a kwh in the US that’s $35 a month

          • http://twitter.com/iAndrewmane Andrewmane

            WOW.

      • Festin

        it takes 600W

    • tetridae

      Bitcoin is still a long-term investment. If goes mainstream every coin will be worth half a kingdom or more :P And electricity can be used instead of heating costs at least in cold parts of the world.

  • lolek

    If machines pay themselves in 2 weeks doesn’t it make more sens for producer to run it for few weeks before shipping? :)

  • http://www.facebook.com/john.glenn.73700 John Glenn

    why do they sell money printing press? what is their reasoning?

    • atwas911

      Exactly. If the device costs $1500 and they sell it for Bitcoins ONLY.. Why sell it? If they are paying for themselves in under a month. Why not build it, run it, collect money, build another and another.. etc..

  • atwas911

    This company has essentially created a golden egg laying goose.. They are willing to sell you one in exchange for golden eggs ONLY..

    Now.. why would you want to sell something.. in exchange for the things the item creates? Why not just shut your mouth, keep it for yourself, and just sit back and collect golden eggs?

    Somethings not right.. Fraud sensors are going off like crazy.

    • tetridae

      Golden egg analogy is broken since golden eggs don’t break the market if any “party” gets close to 50%. They don’t dare stockpile because if they have too much, they could compromise the security of the bitcoin blockchain and then no one would trust bit coins anymore.

  • http://twitter.com/millionaireking Micah James Wallace

    The
    Producer is Mining Before any of get to and they do it 24/7 with theire own machines well making money selling machines to the customer.

  • disc order

    Yes I also don’t understand why you would sell a money printing press. Why not instead collect enough funds to buy hundreds of these ASIC miners, “test” them by running for a few months until you have millions in coins then send them out once the max bitcoin mining capacity has almost been reached.

    • tetridae

      Yes they already do “testing” for some time, but in the end they need to get money to buy new hardware to finance production of new miners. They also have no long term interest in making the bitcoin network unstable by amassing too much hashing power at one point because that could break bitcoin and also their own ability to sell the miners.

  • http://www.facebook.com/profile.php?id=654903981 Manis Barosee

    “boo hoo hoo, my 2kW quad 5970 machine’s 4Ghash/s just cannot compete”?

  • tetridae

    Exactly.. if they just stockbiled and used all themselves they would risk getting >51% hashing power and therefore jeapordize the market they are trying to sell to.

  • tetridae

    Well you wouldnt want to get close to 50% of the hashing power since that risks breaking the security of bitcoin and then people wouldn’t trust it anymore. But sure they probably “test” their equipment a bit before selling it ;)

    • atwas911

      Yeah.. They test it until the mining difficulty jumps up again and these devices become useless. Oh we’re shipping them out.. Oh by the way.. we’re accepting pre orders on the next generation 500gh/s machines.. Then sit on those.

  • Casey Dean McDonald

    the rich get richer