Mining ASICs Technologies B.V. (MAT) Launches Buy One Get One Scrypt ASIC Miners

Caleb Chen @bitxbitxbitcoin
April 1, 2014

The latest update from the Scrypt ASIC Race to the bottom was revealed today by Mining ASICs Technologies (MAT).   MAT has essentially matched KnCMiner’s recent 250% free upgrade blindside with a Buy One Get One (BOGO) program.  Those users that purchase an EXCALIBUR 4, will actually receive 2x EXCALIBUR 4, and so on and so forth with the EXCALIBUR 5.  Effectively, all MAT customers will receive a free 200% as a result of MAT’s commitment to staying competitive.

The details were released on MAT’s website, earlier today.  In the same BOGO announcement, MAT raised some questions about one of their competitors in particular:

Ask yourself the following questions:

  1. Do I want to pay a 100% deposit, to a company that is building their own datacenter with this money, which will increase the difficulty level tremendously, so my OWN ROI will never be reached?

  2. Am I going to give my money to a company that delivered one time a simple miner with huge delays and is now promising new upcoming miners, asking for money, but not offering any delivery terms and conditions?

Indeed, the Scrypt ASIC Race is getting nasty.  Of course, MAT also reminded readers of their promise to never mine with their own gear.

The Scrypt ASIC Race Towards The Bottom (Cont..)

Though Scrypt ASICs have been spotted in the wild as early as January 2014, the bulk of the coming Scrypt ASIC hashing power is still sitting in varying stages of development across several competing companies.  These companies are undoubtedly competing with each other and the blows keep on coming.

On 3/19/14, KnCMiner announced their then 100 MH/s Titan Scrypt ASIC meant for Litecoin Mining.  The original $/KH/s was around $0.10/KH/s, which was considerably better than the then offerings of Mining ASICs Technologies B.V (MAT)., Fibonacci, Flower Techology, and Alpha Technologies.

In the days following KnCMiner’s reveal of their Titan Scrypt ASIC, Alpha Technology was first to increase the hashrate of its units also free of charge. Alpha Technology increased the hashrate on their “Viper” using board modularity to match KnCMiner’s $0.10/KH/s.  Additionally, Alpha Technology updated their power consumption figures to reflect increased efficiency achieved by their developers.

On 3/24/14, MAT did the same thing, announcing upgrades to their EXCALIBUR line of Scrypt ASICs.  The new EXCALIBUR 5 by MAT offers 250 MH/s for ~$20,662: $0.0826/KH/s, slightly better than KnCMiner’s then offering of $0.10/KH/s.  In an epic continuation of the crossfire, KnCMiner announced a free upgrade from 100 MH/s to 250 MH/s on their Titan units on 3/27/14.

The new $/KH/s to beat, as set by KnCMiner, is $0.04/KH/s.  In response, MAT has announced this BOGO deal to bring their EXCALIBUR 4 and 5’s down to $0.0413/KH/s.  In addition, MAT has also launched an affiliate program, and is willing to provide additional discounts to bulk orders.

Why Only Scrypt ASICs?

Some observers of this Scrypt ASIC race to the bottom might wonder why next generation Bitcoin ASICs are not experiencing a similar drop in price or rise in hashrate.  Neither KnCMiner nor MAT have changed the specifications on their Bitcoin ASIC machines, which are also in direct competition with each other.

Obviously, the Scrypt ASIC race is much more competitive because of the sheer number of viable contestants at this early stage in the industry.  There is zero indication from any of the Scrypt ASIC companies that this competition is anywhere near over.  While KnCMiner and MAT compete for the fastest single-box Scrypt ASIC machine, Alpha Technology has reaffirmed their intention to “deliver before any of our competitors even ship.”

As always, stay tuned to CCN for the latest updates in Mining news.

Last modified (UTC): July 7, 2014 14:40

Caleb Chen @bitxbitxbitcoin

Caleb is a graduate of the University of Virginia where he studied Economics, East Asian Studies, and Mathematics. He is currently pursuing his MSc in Digital Currency at the University of Nicosia.