KnCMiner completes scrypt miners, sells $2 million worth in four hours

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cryptocurrency, kncminer, litecoin, scrypt mining

KnCMiner, known for making Bitcoin mining rigs, completed work on a scrypt mining machine called Titan earlier this month. The systems went up for pre-order recently and as evident by early sales figures, the company has yet another successful configuration on their hands.

The machines, rated at 100MH/s and aimed at mining alternative coins like Litecoin and Dogecoin, retails for $9,995 each. According to the company, they managed to sell $2 million worth – or 200 systems – within the first four hours of the pre-order. That’s a far cry from the 2,500 they plan to build in the initial run but it’s certainly a good start.

The development is good news for the altcoin market as it means there’s significant interest in it but for the average Joe mining at home with GPUs, it could be the beginning of the end. To put the Titan’s processing power into perspective, the homebrew Litecoin miner featured in a recent article here on TechSpot was able to generate around 2,600 Kh/s using three video cards.

The Titan, on the other hand, turns out 100,000 Kh/s. Based on current mining difficulty and exchange rates, it’d take a little over a month for someone to recoup their $10k Titan investment but consequently, such efficient miners will no doubt drive up the difficulty even further. As was the case with Bitcoin, these types of miners will ultimately make it inefficient to mine using GPUs.

The Titan is expected to ship sometime during the second or third quarter of this year.

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