Rather than posting information on individual hardware orders for evidence purposes and such I have decided to streamline the process by simply uploading screenshots of the order confirmation documents to docs.ciphermine.com/orders/
. Please review them at your leisure. Note that I'm not bothering to include the small stuff (fans, cable ties, tools, CPUs, PCI-E risers, DVI-VGA adaptors, etc).
We have spent an initial 172 BTC out of 423 raised at IPO (15,667 LTC x 0.027 BTC/LTC) on Avalon ASICs (see order CM-SB-05).
We've decided to spend 15% of the fund (25 BTC) on GPU hardware rather than the planned 5%. This is mainly because of the fervour around LTC at the moment with its expected launch on Mt. Gox in July, but also because the prospects of our diversification into renting out big GPU clusters is looking increasingly promising as is their resale value (we could make 10% just by flogging them on eBay!). This is also likely a good hedge; spending the full 95% on SHA256 mining hardware was probably a bit overkill, especially with new, improved devices on the horizon.
We will be spending the rest of the fund (224 BTC) on SHA256 mining hardware in the next few days. Giles and I are figuring out what the best option is going to be; we're tempted by the ASICminer USB erruptors which are now 0.9 BTC each, but with Steamboat expecting to be shipping his ASICs (which are in 300% more efficient in terms of ROI) in mid August we might just stick with those! We do also need to purchase the parts for the Klondike boards so some of the funds are reserved for that.
Back to GPUs, we now have hardware for an additional three quad-Sapphire 7950 rigs on order due to arrive in the next week. We've determined that these cards are definitely the sweet spot in terms of cost and power consumption (those rigs only use 1kW but generate 2.43 MH/s scrypt - way better than 7970s for instance). We are also looking at squeezing a fifth card into the rigs.
For your interest I have also made a folder for pictures of the mining rigs and associated hardware. It is at docs.ciphermine.com/hardware/
. See below for what our preferred rig configuration looks like (that one's back on the build workbench to try to squeeze in the extra GPU):