B-Eleven Hosted Bitcoin Mining From BW.com

BW.com are close to introducing their new 14 nm process ASIC bitcoin mining chip this winter. The company plans to sell the new bitcoin miners to the general public but what is most interesting is that hosted mining will also be available and can be pre-ordered now.

B-Eleven

Unit price is 0.78 bitcoin per TH/s with a minimum investment of 0.01TH/s. The 0.76 unit price on the screenshot is out of date. If you transfer bitcoin to your account at BW and try to buy B-Eleven you will find there are 4700 plus THs remaining for sale at .78 btc/THs:

B-Eleven Bid and Ask

During Stage One your investment earns 0.000312 bitcoin per TH/s daily interest or about 14% per year.

Stage 2 (Mining) is planned to begin January 1, 2016. At that time investors will earn income from mining with no fees until they have recouped their initial investment. If for some reason there is a delay in getting the new miners online by January 1 investors can elect to have their investment principal returned, or agree to wait until mining begins.

Once investors have received their investment back they will enter the Co-share income stage. During the Co-share stage investors receive 50% of income after paying maintenance fee 0f 3.12 CNY/THS/DAY, the rest of the income will be used to (included but not only) pay for fees from Stage 1, machine maintenance, miners, mining farm maintenance, unexpected accident and venture insurance.

The agreement will be temporarily terminated if the fees exceed the average income for 10 days and it will be officially terminated if the fees exceed the average income for 30 days.

When Stage 2 (mining) begins investors will be able to buy and sell B-Eleven hashing power on the BW.com exchange similar to the way Hashnest works for Bitmain.

Bitcoin News Magazine bought 1 TH/s of B-Eleven so we can report progress. From this screenshot of the BW dashboard you can see our investment is already earning interest:

B-Eleven Investment

Should I Invest In B-Eleven?

B-Eleven hash is selling during the pre-order Stage One for 0.78 bitcoin per TH/s. Right now the most power efficient bitcoin miner is the Bitmain Antminer S7. On the Hashnest exchange S7 hash is selling for 1.96 bitcoin per TH/s.

The B-Eleven miner is expected to draw 250 W/TH same as the Antminer S7 but costs less so has a better chance of remaining profitable through the bitcoin block reward halving next July. At less than half the price of S7 hash B-Eleven may be a good investment. Time will tell, but BW.com is confident enough in making their Jan 2016 mining date to guarantee your original investment.