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ButterflyLabs Monarch Miner moves closer to production

Thursday 22nd, May 2014 / 09:28
ButterflyLabs Monarch Miner moves closer to production

ButterflyLabsPainful“, is among the many expressions heard as the public patiently awaits the highly anticipated release of Butterfly Labs Monarch series miners.

Based on comments found in the ButterflyLabs forums, some consumers have been in a Pre-Order status for up to 9-months and perhaps longer.

In a forum post dated May 20th, 2014, employee BFL_Josh who is known as the “Go to person” for mining rig updates states,

05-20-2014 at 11:02 PM  

I wish I could start this update by saying we are shipping… but we aren’t quite yet. Believe me, it’s just as painful for me as it is for everyone else. There’s not a lot of update I can give at the moment, things are moving very fast and any information I post right now would be out of date inside of 24 hours.

But a quick summary and bottom line will have to do:

We have gone through several board revisions, moving towards a final revision. I had expected a final rev delivered to KC today, but some last minute resistor adjustments has delayed that until (hopefully) tomorrow (although they may be on the way to KC already). I wish I could convey the level of effort that is required to bring a board and a chip to life, but words just can’t do the job justice I’m afraid. There are hundreds if not thousands of little things that need to be attended to that make a board and a chip viable and useful. They are all small things for the most part, but they all add up to a significant investment in time to get right. 

So the bottom line is we are very close… I don’t know how close. I can put a time frame on it and risk being wrong or I can just say that we are working as fast as we possibly can to make this happen. We absolutely do not want to end up with boards or devices that arrive dead or half functioning or over heating or consuming more power than they should or parts falling off of them (these are all things that could easily happen if we ship bad hardware). I believe we will start shipping any day now … as soon as we get a board that works to the level we believe is up to our standards of operation, we will have a large quantity of them roll off the line within 24 hours and we’ll start the packing and shipping process after that. 

I will post a further update tomorrow once I’ve had a chance to go over in more detail with the engineering team on where we stand as far as the final rev and hopefully I’ll have the latest (and last) board in the shop to test.

ButterflyLabs MonarchWhen consumers first had the opportunity to buy into this Pre-Order Miner technology, the difficulty level vs hash power potentially could yield thousands per month in returns from a single 600-GH Monarch miner.

Our original calculations based on the difficulty rate reported August 2013 suggested upwards of 8-10 BTC per month could be mined equaling a payout of $6,400.00 – $8,000.00 USD.

In hindsight, that was a great investment where the original buy-in price was $4,500.00 on average per Monarch miner card.

Nearly a year later and after countless delays, a 600-GH Monarch miner, carrying a revised price tag of $2,100.00 USD, may produce returns of 1 to 1.5 BTC per month resulting in an ROI taking several months to break even based on the current value of Bitcoin.

ButterflyLabs spokesperson Josh details in another forum post, the company has extended special offers to customers who have waited over 6-months. These offers include double hardware, double speed or full refunds.

On a positive note, Bitcoin has been steadily rising in value and a price rally may be on the horizon which will help Bitcoin miners recoup their losses.

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