BitSyncom, one of the oldest ASIC manufacturers, has announced that it will be bringing up its newest round of next gen Avalon ASIC mining equipment sales. Auctions are going to start this month in partnership with Tradehill, Inc. The company intends to allow bidders to set their own purchase price, with a set minimum price.
According to the company, “Each auction will distribute a defined amount of mining units, all of which will be available for immediate shipment at the close of the auction.” Earlier this year in February, BitSyncom launched the first application specific integrated circuits (ASICs) dedicated to Bitcoin mining, which arguably was the fastest dedicated Bitcoin mining hardware in the world.
Now, the BitSyncom has brought in the new range of Avalon ASIC mining equipment which according to it will be sold in auction. The company says that all of the equipment will be available for immediate shipment at the close of the auction. To place bids, potential buyers will have to create a Tradehill auction account.
Interestingly, potential buyers will have to fund their bids in Bitcoin and for that they can sign up to open an auction accounts at www.tradehill.com/auctions. The company says that the first auction may open in the first or second week of the month, and will continue three business days. The results of successful bidders will be made available within 48 hours after the end of the auction.
The announcement says that once the winners’ names have come up, the next gen Avalon ASIC mining equipment will be shipped within three business days. The company believes that with the auctions it will be providing the fairest method of distributing its latest generation of mining equipment.
BitSyncom President Yifu Guo confess that he is excited to be teaming up with Tradehill, Inc. on this innovative method of selling the next gen Avalon ASIC mining equipment. He says that his company is committed to only auctioning equipment that is available for immediate shipment. TradeHill CEO Jered Kenna too said that he is thrilled to be partnering with BitSyncom, a leading provider of mining equipment to the Bitcoin industry.
BitSyncom had become the first company to bring application specific integrated circuits (ASICs) which according to it could mine $200-$300 per day. Then the company CEO, Yifu Guo had said that one of the most important consequences of ASICs is that normal desktop computers will be made increasingly irrelevant for Bitcoin mining.
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