hypnosec writes: A digital media student and head of BitSynCom LLC, Yifu Guo has invented a Application Specific Integrated Circuits (ASIC) capable of mining Bitcoins 50 times faster than currently available computer systems and offers an impressive price-to-performance ratio and consumes a lot less power as compared to GPU-based system available today. According to tests carried out by the Bitcoin Foundation, the Avalon V1 churned out “89 gigahashes of raw crypto-juice every second" which is equivalent to that 250 Radion HD 5850 graphic cards each consuming 200 watts of power. The Avalon V1 managed to pull this off by consuming only 600 watts of power. Given the capability of the Avalon V1, it will provide its users anywhere between $200 to $300 worth of Bicoins every day.
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