In a 1st for any vendor or manufacturer in this business, Josh Garza just issued a statement giving credit back to all Generation A Scrypt ASIC Miner customers.
He has done this in response to Scrypt mining profitability dropping off faster than forecast. Josh from GAWMiners decided to help his customers by giving credit back to all GAW Generation A customers. The credit is a change in the way GAWMiners deals with it's customers that he hopes will be picked up by other vendors and manufacturers as well.
Editor's Note: Most mining companies (from BFL to Zeusminer) do offer some form of loyalty program to incentivize customers to stay on between batches. However, this is the first recorded instance of "profitability dropping too fast" being compensated out of the blue.
[dropcap size=small]I[/dropcap] was able to talk to Josh directly about it.
When I saw how quickly the profitability with Scrypt mining was changing in ways that were faster than out estimates, I knew I had to do something for our customers who had just purchased miners from us.
Many companies just sell their equipment, and that is the end of the line unless there is a warranty issue. We are trying to change that by not only offering better support but also making sure our customers can count on GAW to be a partner with them instead of just a seller. If our customers can get a quality product with the full support behind it, this is good for the whole industry. We as sellers need to make sure our customers can thrive. A thriving customer base is great for the whole industry.
Josh, you had stated you hoped other sellers would follow along in this kind of venture. Why is that?
This goes back to what I said before. We need a healthy customer base as a whole, not just GAWMiners. If customers are able to do well mining and get a solid ROI, they can come back and get more miners and next generation products. Too many times the customer is on their own when changes in profitability among other things happen. As a provider, we need to assume some of the risks our customers take on to help make sure they are not alone anymore.
Many of our competitors copy our innovations be it the Founders Club, etc., I hope they will follow along with this as well. It is good for all and strengthens the industry completely from the customer up.
The ZenController roll out was unprecedented; I want to touch base on that quick. I know that so many of them activated at once that ZenMiner had to stop registration for part of the day to add capacity. Could you tell me on your end how that went?
We were able to ship our miners a day early. With the shipping companies the way they are we figured they would be delivered over the course of several days. Instead, they were delivered all at once. A great deal for our customers but it shot up the timetable a full day on ZenMiner for getting capacity up to meet the demand. That caught us off guard. Now they are going full speed; the ZenController is working well, and they are developing and adding features as fast as they can.
We have several more big things on the way soon. It is an exciting time and place to be in the (crypto currency) industry.
I think it is a good thing they are doing for their customers with the credit. The difficulty and mining profitability can change so fast this helps take the sting out of it for their customers. Watching how hard they worked to get the Generation A miners out and to get the ZenControllers ready and the site up and running to coincide with the release was fun. Now seeing how they treat their customers after the sale is even better. Josh and GAWMiners seeing the customers as a partner and not just a number is a good thing. It will help keep a robust and healthy mining community going strong which is the backbone of any crypto currency.
[dropcap size=small]H[/dropcap]ere is the announcement in it's entirety from Josh at GAWMiners.
Profitability with Generation A
I have been spending most of my morning reviewing the profitability charts for the last few weeks. Profitability dropped much faster than I previously thought.
As you know, loss of profitability is part of the risk that all miners share.
The question is: how can we represent your best interest if we only share in the upside? As your hardware provider, I believe we should share the risk with you. This industry will only survive if we all work together and all share the load.
As such, I am electing to issue credits to all Black Widow, Falcon and War Machine purchases (Fury's received a free ZenController). Just because... I think we should. I also hope other companies will follow in our footsteps.
Here are the credits you will receive back to your GAW Miners account:
Black Widow - $250
Falcon - $350
War Machine - $450
No matter what week you bought, you will get the same credit! We will automatically apply the credit to your account. I just ask for your patience as it will take some time to get them all added. If you have not gotten your credit by the end of Sunday, please let us know :)
I started this company because I believe this is what this industry is all about:
"Working together to have fun and creating success at the same time."
Thank you all,
Last modified (UTC): June 7, 2014 9:22 AM