posts/club-moonlanders.jpg

Mining Club Update: We’ve landed on the moon

1 minute read

This week we finally received our first shipment of ASIC-based miners, the FutureBit Moonlander 2: “The Most Powerful and Efficient USB Stick Miner on the planet!”. These are the first devices that our club will put into production to mine Litecoin (LTC.)

In our Mining 101 doc, we discuss the different kinds of miners that are available on the market and the differences between them. Different cryptocurrencies require different mining hardware technology. In the case of Litecoin, it requires script mining devices. The Moonlander 2s ASIC-based design will allow the club to mine Litecoin in the most power efficient way possible.

For those interested, here are the specs for the Moonlander 2 via Bitcointalk.org:

  • 3mh to 5.5mh scrypt performance per miner
  • Core clock from 500mhz to nearly 1GHz.
  • Fully customizable core voltage range from .6 - 1v, as well as adjustable memory voltage.
  • Fully redesigned 5v->core voltage stage with about 95% efficiency.
  • Heavy duty/over spec-ed parts were used to ensure wide range of operation.
  • Custom heatsink design, and the first USB miner to feature a built in 25mm Fan.
  • Status LEDs for power, TX and RX transmission.

The Moonlander 2 is over 4x the speed, over 5x the efficiency, and nearly 5x the profitability of its predecessor, the Moonlander. The original Moonlander was yielding about $2 USD a month, this stick is doing almost $10 per month at current price/difficulty). This beats out any other stick miner whether script or any other algo!

Introducing Speculative Mining

Earlier in our club communications we referenced that we were researching the feasibility of doing some speculative mining to reduce risk and increase flexibility through mining diversification. We moved ahead and acquired the club’s first GPU - the Sapphire NITRO+ RX 580.

posts/club-GPU.jpg

Originally designed for gaming, this AMD Polaris GPU will allow the club to mine additional cryptocurrencies like Monero and Monacoin as two examples.

While our Moonlander 2s will mine Litecoin for the foreseeable future, we plan on switching up the cryptocurrencies we mine with the GPU depending on mining difficulty and market performance. Club members will be able to withdraw our GPU mined cryptocurrencies the same way they would with Litecoin.

As well, we plan to allow users who exclusively want to maintain Litecoin balances the ability to convert their speculatively mined altcoins into Litecoin at month’s end.

Next Steps

Over the holidays our team will be tweaking the performance of our miners, ensuring that we get an optimal performance/efficiency ratio. We will also be setting up the devices in the data center to perform our first round of testing. After testing we will be full-steam ahead! Stay tuned for more communications from our team as we progress.

Happy holidays,

The Crypto Noob Team

Categories:

Updated: