The $22,484.00 Butterfly Labs Mini Rig bitcoin miner is a sexy bitcoin mining machine.

mini_rig

Butterfly Labs has a long history as the pioneer of bitcoin mining rig hardware. They’ve successfully shipped two generations of equipment to the bitcoin community.  They started taking pre-orders for their third generation miner in the summer of 2012 with a ship time expected by end of year.  After suffering from a delay in production,  they’ve finally managed to deliver on their bold promises.  Their eager customers are just now starting to get their bitcoin mining machines as I write this.

Lucky BFL forums user Luke-JR scored a sweet Mini Rig from Butterfly Labs This rig was originally designed to run at 1500 GH/s but is being delivered in three smaller units of 500 GH each after customers were given the option to accept the configuration change.

If you would like to buy one of these 500 GH/s machines, it will set you back $22,484 USD.

So what does $22,484 buy you? Take a look!

Mini-Rig

Let’s peek in on the inside of this monster.

bflminirig1

So clearly this is a sexy bitcoin mining machine.  But can it mine bitcoins?   Hell yes!

Keep in ind that many people jumped in on the pre orders a year ago when bitcoins were still hovering around $6.50 per.   This means customers who opted to pay in bitcoin paid 1,562 of them which at today’s value is $156,200.   That’s Aston martin money, so you can imagine how emotions are high for some of these people.  In fact, there’s quite a stir of people on the internet venting at their perceived loss.  But really, does this make sense?

Let’s be fair to Butterfly Labs for a moment.  They offered full refunds to anyone up to the point they went into production.  Customers were required to opt in and stay in the production queue or get a forced refund.  They took an extra six months to get through their development process but that’s not altogether unheard of in the chip design industry.  AMD was 8 months late on their 28nm product release.

But this is different.  It’s a money machine!  If it’s late, people don’t make money, so they have a right to get wound up.  Right?

In any case, with the price of bitcoin having increased, the pay back for the people just receiving their machines is now only 20 days.  That’s right.  Customers paid $30,000, and get three 500 GH/s machines, each of which make about $500 a day right now.  Congratulations.

WHAT?!?   Yes, the first ones to receive these machines will get rich.  But what about everyone else?

How long will it take them to make their money back?  This is the game of bitcoin mining.  Many factors can change.  Bitcoin mining is competitive.  Miners have to weigh expected difficulty vs expected bitcoin price.  So far, it appears each bitcoin mining machine Butterfly Labs has delivered will make it’s customers money back if measured in dollars vs dollars and not bitcoin vs dollars.

Gigavps from the bitcointalk forums has reported in on his mini rig mining performance.  Let’s take a look at a screen shot from his cgminer setup:

bitforce500-2hr

There you have it, the speculation and controversy is over.  The Butterfly Labs Mini Rig is real!