100th : Reports

New Layout 

We have changed the layout of the page. The functionality remained unchanged. We will improve the functionality based on user requests if needed. 
Created on 2014-11-24 19:47:00 by Leszek Rychlewski; Published on 2014-11-24 19:49:31 by koji;

Moving to pool mining 

Solo mining generated very unreliable results and we have the feeling that the mine has underperformed in the long run compared to the results that would be obtained if using a pool. Thus we have decide to switch to pool mining. We are user 522067 on btcguild. The payout schedule will change. Dividends will be more frequent but smaller.

We will also sell more shares to improve liquidity of the asset. We will sell small amounts of shares at market price. 
Created on 2014-03-19 00:21:00 by Leszek Rychlewski; Published on 2014-03-19 00:27:36 by koji;

Investment returned 

Until today the (renamed) 500th mine returned a total of 20903 BTC in dividends. This is higher than the market capitalization at IPO (518271[shares]*0.04[price]=20730[market cap]). We expected this date to come sooner than almost 11 months after IPO. Nevertheless we see this as a very positive outcome given the difficulties we have faced and the extremely competitive market. 
Created on 2013-12-27 19:14:00 by Leszek Rychlewski; Published on 2013-12-27 19:33:42 by koji;

1GH/s per share 

We are now operating above 500TH/s and this is roughly equivalent to 1GH/s per share. We will keep this average hashrate from now on.
The mine has generated 18622 BTC in revenues so far. We expect to break even end of this year and reach the total revenues of 20730 BTC (0.04BTC IPO price * 518271
Created on 2013-12-17 12:01:00 by Leszek Rychlewski; Published on 2013-12-17 12:08:08 by koji;

500TH/s reached 

We have reached 500TH/s. We will try to keep this hashrate as long as the hardware lasts. We will not deduct running costs as long as these remain marginal (below 10% of revenues). 
Created on 2013-12-15 23:23:00 by Leszek Rychlewski; Published on 2013-12-15 23:25:42 by koji;

300TH/s reached 

We are currently running at ca. 300TH/s. We will not decrease this hash rate. We are still expecting higher hashrate this year. 
Created on 2013-11-26 14:23:00 by Leszek Rychlewski; Published on 2013-11-26 14:25:01 by koji;

reached 200TH/s 

We have reached the hashrate of 200TH/s. We will expand the mine and add hashing power, but it is not yet predictable when and how much. We expect to close the expansion this year and after that we will focus on maintaining the mine. The mine will work closely with the megabigpower.com shop. Hardware scheduled for sales will be tested in the mine. This means that the mine will experience hashrate fluctuations that depend on shop hardware supply and stock. 
Created on 2013-11-20 20:22:00 by Leszek Rychlewski; Published on 2013-11-20 20:28:53 by koji;

Our first block 

We are mining now with ca. 75TH/s. The installed hardware needs a lot of adjustment before we get full capacity from it. We expect to have more hash-rate in 1 week as a result of optimization of the local installation. In 2-3 weeks we will have the remaining hash-rate when new hardware arrives.
We have solved our first block: 000000000000001405e4fe173fa30f8b71ad395ca1312556e43113c746d869c5
Most of the hash-rate is still directed to a pool. We will convert to solo mining after we finalize our setup. 
Created on 2013-09-22 19:15:00 by Leszek Rychlewski; Published on 2013-09-22 19:27:08 by koji;

Failed production and change of investment parameters 

After reviewing the H-board received from the production facility (http://bioinfo.pl/pub/pico/hcard-production.jpg) we have discovered that the PCB boards used for assembly contain a serious flaw. The boards were designed as 4-layer PCBs (http://bioinfo.pl/pub/pico/hcard-traces.png, http://bioinfo.pl/pub/pico/hcard-design.jpg) while only 2 layers were produced (http://bioinfo.pl/pub/pico/hcard_front.jpg, http://bioinfo.pl/pub/pico/hcard_back.jpg). The hashing boards are of course not functional without the 2 internal layers (green and yellow traces) that contain the SPI communication paths to the ASIC chips.

This production failure was caused by a wrong conversion of eagle files to gerber files by the contractor (PCB production and assembly facility). This error could not have been anticipated by us and was a shock to us.

We need to produce new PCBs and populate them with chips. This delays the deployment by an additional month and causes substantial losses for the 100th-mine investors. As a response we will increase the hashing power of the mine to 200TH/s in the next 2 months.
Created on 2013-08-13 20:14:00 by Leszek Rychlewski; Published on 2013-08-13 20:18:08 by koji;

Deployment schedule 

We expect mining hardware to arrive at the data center next week. We are finalizing the preparation of the power supply, internet communication and device management. We are also validating the dividend distribution process. We have connected a very small demo device with only 4-hcards to a mining pool. The revenues from the mining pool will be sent to the asset's dividend account (19t7RxwXdfiwQMyQ3JVB16e9HgV7omijSs) and distributed automatically. We plan later to pay dividend immediately after mining a block (after default 100 confirmations). 
Created on 2013-07-27 15:05:00 by Leszek Rychlewski; Published on 2013-07-27 15:11:01 by koji;

Deployment schedule 

We are having problems finding contractors able to produce and assemble PCBs for us. The best time we are getting for the completion of the process is 2013-07-25. We will try to get faster production schedule but current worse case scenario is deployment of the mine by the end of July. 
Created on 2013-06-30 18:04:00 by Leszek Rychlewski; Published on 2013-06-30 18:07:58 by koji;

Chip results successfull 

Chip results are successful. This was the most important and risky milestone of the project. Preliminary test results were posted on Bitcointalk by Bitfury (https://bitcointalk.org/index.php?topic=228677.msg2515472#msg2515472).
Unfortunately the chip does not perform as planned. We optimistically assumed a hashrate of 3.5GH/s at 0.6V. The chip is 2 times slower and if overclocked can run at 2GH/s. Further overclocking would be to expensive in terms of hardware prices (power supply).
Because of the lower hash rate we will have problems to deliver the full 104TH/s performance in the next weeks. Only 35296 chips are expected to be available for the mine next week. This corresponds to only 70TH/s. We are still waiting for the other packaging company to provide us with the estimation of the date for the completion of packaging.
We expect a delay of 1-2 weeks in launching the mine. We assume the initial launch will include only 70TH/s and few days later additional 34TH/s will be installed. 
Created on 2013-06-21 01:00:00 by Leszek Rychlewski; Published on 2013-06-21 01:11:15 by koji;

First chip test inconclusive 

So far we had only very short time to test the chips locally in Taiwan and we were not able to communicate with it. The provisional dead bug setup was sufficient to evaluate leakage currents but we were not able to create a functional level shifter to transmit messages between it and raspberry pi. We fly the chips to EU now. The test will continue on Sunday night. 
Created on 2013-06-15 10:50:00 by Leszek Rychlewski; Published on 2013-06-15 10:54:56 by koji;

217 chips received 

217 chips have been received from the packaging factory in Taiwan few minutes ago. We will start testing the chips in 2-3 hours from now.
To improve liquidity and prevent huge price fluctuations Pico (https://picostocks.com/users/view/23) will set now an ask order at 0.4BTC, which is above the current trading price and above the all-time-high price. 
Created on 2013-06-14 12:57:00 by Leszek Rychlewski; Published on 2013-06-14 13:05:22 by koji;

More chip delay 

The packaging company postponed the delivery to 13th. We will try to convinced them that this is not a nice move :-). We understand that each day is a very big loss. They are maybe not aware of this yet so we sent our Agent to Taiwan. We will consider changing the packaging contractor. 
Created on 2013-06-09 00:33:00 by Leszek Rychlewski; Published on 2013-06-09 00:36:34 by koji;

Chip packaging delay 

The packaging facility will ship the chips on 2013-06-10. We have 2 weeks delay :-( 
Created on 2013-06-04 15:44:00 by Leszek Rychlewski; Published on 2013-06-04 15:45:33 by koji;

Wafer production completed 

Wafers are finished and are on their way to the packaging facility. Few chips will be probably ready in 1 week. The rest will be ready in 3-4 weeks.
We have ordered components for the provisional board production. The provisional design will be finalized next week. The boards will be tested with the first few chips and modified according to the observed chip parameters. We hope to have all components for the remaining boards ready for assembly before the main batch of packaged chips arrives. 
Created on 2013-05-24 11:13:00 by Leszek Rychlewski; Published on 2013-05-24 11:21:59 by koji;

Wafer production and chip packaging 

First wafers will be completed on 2013-05-25 (few days delay). We have succeeded to request expedited packaging of first chips from the first wafers. We expect receiving packaged chips after 2013-05-30. These will be used to verify the function of the chips and test provisional board design. We believe board assembly with all 100th mine chips before 2013-07-01 is feasible.
Created on 2013-05-22 16:30:00 by Leszek Rychlewski; Published on 2013-05-22 16:35:16 by koji;

Chip production update 

The wafers will be completed on 2013-05-19 (May 19th). We are negotiating the timing of packaging now.  
Created on 2013-04-04 11:50:00 by Leszek Rychlewski; Published on 2013-04-04 11:52:06 by koji;

Chip production started 

Initial tapeout submitted. We will still modify the top metal layers while the production of the masks for the lower layers continues. We need to do final optimization of few logic elements that are currently left as unconnected NAND2 cells.
Tomorrow production of the firs mask will start (JDV, job deck view phase). We expect the production of the wafers to finish before end of May. 
Created on 2013-03-28 11:56:00 by Leszek Rychlewski; Published on 2013-03-28 12:02:39 by koji;
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