Coindesk (Charmed by Dogecoins) takes Grid Seed G-Blade scrypt ASICs for a spin, mines 100,000 dogecoins in a week
Note that the cost per hash ratio isn’t too far from existing graphics cards. As to whether power savings are worth it, you will have to look at phaseouts as more power graphics cards (pirate island and maxwell generations) enter the market along with the next line of scrypt ASICs.
But it’s great to see Coindesk charmed by dogecoins and mining it
My suggestion is dogetips or dogecar!
We got our hands on a Gridseed G-Blade miner, one of the first scrypt miners in the market to use ASIC chips. ASIC chips have been used to mine bitcoin for over a year, now they are making their way into scrypt mining.
That’s making scrypt even more attractive to newbies.
MinerEU is the European distributor for the China-based manufacturer Gridseed. CEO and co-founder Jing Wei explains why it is easier to get into ASIC scrypt mining:
“The clear advantage of scrypt ASIC mining is lower power consumption. It’s scalable: you can even set up a mining farm at home. It’s also very easy to set it up. We have streamlined the process. […] In a few minutes you can connect all the parts together.”
Mining Adventures at CoinDesk
Each Gridseed G-Blade miner has two boards with 40 GC335 ASIC chips on each one. This $1,600 miner promises a total hashrate of 5.2M.
We brought two of the two-blade miners into the office. Including installing the relevant software, it took us about an hour to set them up. But, now that we’ve done it once, next time would definitely be quicker.
Depending on what you decide to mine, the return on investment of these miners is three to six months. We decided to mine dogecoin and managed 100,000 doge with two miners in a week.
While we’ve parted with the miners, we’re still working out what to do with our $58 worth of dogecoin – suggestions welcome in the comments below.