500TH/s reached
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).
Published on 15.12.2013, 23:25:42 by Leszek Rychlewski

Other reports

Project closed
Due to low power efficiency of the 55nm hardware we have decided to install the mine in a low power cost location in Venezuela. Due to political turbulence in the country the hardware has been seized by local gangs. We have no ways to recover the hardware. Even if recovered, operating the hardware i...
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Published on 16.05.2018, 17:09:33 by David Lang
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.
Published on 24.11.2014, 19:49:31 by Leszek Rychlewski
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. Divide...
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Published on 19.03.2014, 00:27:36 by Leszek Rychlewski
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 outc...
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Published on 27.12.2013, 19:33:42 by Leszek Rychlewski
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 ...
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Published on 17.12.2013, 12:08:08 by Leszek Rychlewski
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.
Published on 26.11.2013, 14:25:01 by Leszek Rychlewski
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. Hardwar...
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Published on 20.11.2013, 20:28:53 by Leszek Rychlewski
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 ...
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Published on 22.09.2013, 19:27:08 by Leszek Rychlewski
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.p...
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Published on 13.08.2013, 20:18:08 by Leszek Rychlewski
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 p...
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Published on 27.07.2013, 15:11:01 by Leszek Rychlewski
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.
Published on 30.06.2013, 18:07:58 by Leszek Rychlewski
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 a...
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Published on 21.06.2013, 01:11:15 by Leszek RychlewskiLink to the original
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. W...
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Published on 15.06.2013, 10:54:56 by Leszek Rychlewski
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 curr...
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Published on 14.06.2013, 13:05:22 by Leszek Rychlewski
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.
Published on 09.06.2013, 00:36:34 by Leszek Rychlewski
Chip packaging delay
The packaging facility will ship the chips on 2013-06-10. We have 2 weeks delay :-(
Published on 04.06.2013, 15:45:33 by Leszek Rychlewski
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 th...
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Published on 24.05.2013, 11:21:59 by Leszek Rychlewski
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 beli...
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Published on 22.05.2013, 16:35:16 by Leszek Rychlewski
Chip production update
The wafers will be completed on 2013-05-19 (May 19th). We are negotiating the timing of packaging now.
Published on 04.04.2013, 11:52:06 by Leszek Rychlewski
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...
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Published on 28.03.2013, 12:02:39 by Leszek Rychlewski
Delay in chip design phase
We have not completed the design yet. We expect a delay of 2 weeks. The delay is caused by spending more time than expected on elements of the chip that are not related to its main function i.e. calculation of hashes. We have to finish the control logic and power regulation. These elements could be ...
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Published on 01.03.2013, 19:11:29 by Leszek Rychlewski
IPO* closed
The IPO* has been closed on Friday 2013-02-15 on 23:00 CET, one hour before the promised time. We have received complains because of the to early closure. This was clearly a mistake, but of course not taking part in the IPO* does not mean that anybody is restricted from ordering shares. Trading of t...
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Published on 16.02.2013, 22:18:25 by Leszek Rychlewski
IPO* will close on Friday
IPO* will close on Friday 2013-02-15 at 24:00 CET. We will most likely accept the price of 0.04 BTC due to appreciated valuation of the BTC since the beginning of the IPO.
Published on 14.02.2013, 01:01:18 by Leszek Rychlewski
IPO* of the 100TH-mine
The proposed project describes the deployment of a 100 terahash/s Bitcoin mine. The hashing hardware will consist of mining boards developed in collaboration with BitFury. Today’s network hashing power is 4 times lower than 100TH/s but this situation will change dramatically in the next 4 months bef...
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Published on 31.01.2013, 02:22:20 by Leszek RychlewskiLink to the original