British company Alpha Technology announced that it will delay shipments of its Viper miner until October.
Speaking to Coindesk, the company’s director Mohammad Akram told: “We are doing our best to ensure our customers receive the highest quality of product, which is performing at, if not better the advertised hash rates and power usage requirements advertised and do not want to rush anything which would undermine that.”
According to Alpha Technology, the delay was caused by a number of problems. The firm stated: “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.”
The first batch of miners was ordered in January and the firm planned to start shipments in July. Still, the date was cancelled and the company said it was due to its disputes with PayPal, as Alpha Technology could not access the users’ money held by the payment processor.
Then the firm planned to ship the batch in September. Akram told: “We are aware that there [are] some customer complaints regarding the delays etc. However, I would like to point out that we have increased the minimum hash rate tenfold from 5 Mh/s to 50 Mh/s, and 25 Mh/s to 250 Mh/s, and are looking to meet, if not outdo, our estimates on the power efficiency requirements. These changes, together with the problems we have had with PayPal, have naturally resulted in delays, which have been problems completely out of our control.”
The company noted that it has launched a loyalty scheme in order to “give back” to those who made their orders. Initially, the firm wanted to hand out the shares for those affected by the delay, but then developed a loyalty scheme.
It stipulates giving half of the stockholder dividends’ price to the first customers. Those, who bought 50 MH/s or 250 MH/s Viper miners until August 31st, 2014, will receive the money.
Akram noted is targeted at setting high standards in the mining sector in the following years. He said: “Out of all the startup companies like ours, who had started from scratch in the scrypt mining market, most have been delayed significantly or failed altogether, as a result of some of the high level competition which cropped up from some of the bigger players in the bitcoin market and well-funded companies.”
Alpha Technology is sure that the cost of scrypt altcoins will escalate and thus bring new market opportunities.
Akram added: “The problem seems to stem from those who are in it for the short term, and only thinking about short term ROI, and are dumping coins as soon as they are mining them. This seems to have had a negative effect on the value of these coins.”