Bankrupt Bitcoin Mining Company Alydian to Sell 218TH/s of Mining Power

Alydian has announced it is now accepting bids for three mining systems with a combined 218TH/s output.

Mar 19, 2014 at 9:38 p.m. UTC
Updated Sep 11, 2021 at 10:33 a.m. UTC

Enterprise-scale bitcoin mining company Alydian, the CoinLab-backed company that filed for bankruptcy in November, has revealed that it will sell its bitcoin mining systems in the runup to its eventual shutdown.

The Seattle-based company has since settled with all of its creditors, and the sale marks the end for what was CoinLab's first startup launched in August of last year.

Alydian director of engineering, Robert Batten, indicated that the company is now accepting bids for three mining systems with a combined 218TH/s output, for $5,000/TH to interested buyers.

Batten said that though the systems may not be new models, they still represent a great investment opportunity for the right buyer or buyers looking seriously for a quick way into the bitcoin mining business.

Explained Batten:

"[The equipment is] a small step behind the current state-of-the-art [systems], but it will still make money in its lifetime. It's not obsolete to the point where there's no value."

What's for sale

The company offered a number of details about the available equipment. For example, the mining systems are configured as 1TH/s rackmount systems in 19-inch racks, and each system uses roughly 6kW of power. The systems were custom-built by Alydian engineers.

The systems are currently installed in three different data centers in the Pacific Northwest, according to Batten, and are ready to go for buyers. Alydian was headquartered in Seattle, but had its engineering offices in Portland, Oregon.

Said Batten:

"[Buyers] wouldn't need to pick up the components or do anything like that. They'd essentially just have to point the miners at their specific bitcoin back-end services."

The systems have contracts with two hosting companies. The rigs are being sold as is and on location.

Making an offer

Alydian indicated that all offers are subject to review and approval by the company, though Batten could not comment as to the eventual use of the funds. The minimum sale price of $5,000/TH includes the extra equipment and parts.

The final purchase price can be paid in bitcoins or USD. Offers for the company's mining systems should be submitted to Batten from 19th March through 5pm PDT on 25th March. Interested buyers can contact Batten via robert@coinlab.com.

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