New A-T update: https://alpha-t.net/news/developmental-update-27092014/
Dear valued customers,
With much regret, we unfortunately have to announce that despite our biggest efforts, it is unlikely that we are able to meet our target shipping date for September. Instead, it will slip into October.
Nonetheless, there is also very good news: we are very pleased to announce to you that the tape-out process has successfully finished. This means that we have arrived at the last phases of development, which is the testing phase. Once these tests have ensured that the hardware passes our strict quality demands, mass production of the devices will commence and shipping will start accordingly. This is a big achievement for our company, as the pressure from all the competition that has cropped up since we started has forced us to make changes in our designs to bring you an on-par product that matches or exceeds the performance of competitor products.
As far as batch one is concerned, our miner products will be some of, if not the, most power efficient devices on the market today, and will beat even our own originally quoted performance targets. We expect to have more details about that shortly.
Our chips have come out of the fab as wafers, and they are currently at the assembly house to be sawn (sliced) and packaged.
Without further ado, we proudly present our fabricated Scrypt boards. Please see the pictures of their front and back:On a different matter:
As you’re well aware, our customers are an extremely important part of our business and for that reason we have been doing our utmost best to increase the value of your order as much as reasonably possible, such as raising the hash rates whilst maintaining a good, or even better, power ratio.
We cannot express how grateful we are to you for making our work possible, and we are very delighted that you have joined us for batch one. It’s absolutely thrilling for us that we are going to be able to ship you your miners at any moment now. However, we do realize that making batch one happen has not turned out exactly as we all had hoped and planned, and just like you: we are very disappointed with that.
We really want to give back to those of you who have stuck with us through this difficult period, and reward you in the best way we can. As a result, we have designed a special loyalty scheme for all of you have completed your batch one orders. Whilst we orginally had hoped that we would be able to realize this in the form of shares, after carefull exploration of that option we have determined there are simply far too many legal ramifications for everyone, which makes it next to impossible to do it this way. Our legal and accounting team has therefore come up with another method for rewards.
All customers whom have placed an order for a 50Mh/s and/or 250Mh/s batch one Viper on or before 31 August 2014 are eligible to participate in the scheme, subject to compliance with some limited conditions which sare set out in the Scheme Rules which can be found on this page: https://alpha-t.net/loyalty-scheme-rules/
Customers willing to participate must opt in to the scheme by 31 October 2014 by completing an application form, which can be found on https://alpha-t.net/loyalty_scheme_membership_form.doc
. The completed form must be e-mailed to us no later than 31 October 2014 5:00PM UK Time (GMT) on [email protected]
. The application form will be removed from our website after this deadline, and no further applications can be accepted.
The scheme will run for five financial years, commencing with the financial year ending 31 August 2015 and ending with the financial year ended 31 august 2020. Payment of a bonus is condititional on the Company declaring a shareholder dividend following any particular financial year end.
If a dividend is declared, a special bonus pool will be created for our scheme members which will amount to 3/7 of the value of the shareholder dividend. This pratically means the following: should the shareholder dividend amount to £70,000, the value of the bonus pool will be £30,000. The bonus pool will be shared between all members of the loyalty scheme.
The bonus pool shall be distributed amongst the eligible customers in proportion to the value of orders placed and paid for by customers. We’ve described how this work in more detail in the Scheme Rules. However, in a short explanation: essentially, if your order amounted to 1% of the value of orders received from scheme members: you will be entitled to 1% of the bonues pool. Please understand that this is a very short explanation that has no contractual effect. We urge you to read the Scheme Rules for full details on the exact working of this program.
We are very excited about giving you this option, as it demonstrates our gratitude to our customers, and our determination to make sure that our customers see a real return from their investment in Alpha Technology’s products. We have full confidence that our valued customers will be very pleased with their decision to stick by Alpha as we grow over the coming years. We hope as many of our customers as possible sign up for the loyalty bonus scheme, and we look forward to receiving your completed application forms within the shortest notice possible.
We believe that not many other start-ups that would find themselves in our shoes would have continued their business, and would have given up a long time ago without any future prospects. We hope that we have proven to you that we are more than willing to adapt to the demanding market and evolve. We have ambitious plans for the future that will be shared in due course, and as always: if we have more news for you, we will send another announcement.
Thank you for your time and patience!