Litecoin Limping, But Mining is Red Hot as KnCMiner Sells $2 million Worth in 4 Hours

Even as Litecoin prices continue to disappoint, Litecoin enthusiasts know they can still turn to mining. KnCMiner has announced that they sold

Even as Litecoin prices continue to disappoint, Litecoin enthusiasts know they can still turn to mining. KnCMiner has announced that they sold $2 million worth of Scrypt mining Titan rigs in four hours- a record for the company and an enviable figure for the industry.

The rig costs $9,995 and is rated at 100MH/s (100 million hashes per second). It is designed for mining of Litecoin, in addition to other altcoins like Dogecoin, Litecoin, and Feathercoin. The price would seem exorbitant for a piece of mining equipment, but many still consider it tempting considering the sheer hashing power and glut of litecoins waiting to be mined.

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It is scheduled to ship starting Q2 or Q3 of this year. KnCMiner Co-founder Andreas Kennemar said: 

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KnCMiner's Titan
KnCMiner’s Titan

“We are overwhelmed by the positive response we have gotten and we will continue to produce the best possible mining hardware for our customers.”

By comparison, the Jupiter rig was priced at $5,000 but sold out almost instantly after launch in December. Alex Lawn of KnCMiner described a scenario where a Russian customer called up asking if he can show up with a bag of cash to purchase the Jupiter, but had to be informed that they are sold out. The Russian grunted and replied, “I’ll bring more cash”.

The Titan requires an off-the-shelf ATX power supply, which the customer needs to supply separately. Apparently, this isn’t due to technical considerations as much as the company achieving maximum speed-to-market, as the shipping of power supplies can cause customs-related delays.

The announcement continues a trend of red-hot Litecoin mining sales. Earlier, we reported on AMD’s being sold out of their R9 Graphics cards and their having to adjust prices to prevent hoarding for Litecoin mining.

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