In early September, ASIC chip maker Avalon announced that customers who had placed orders in June or July and had not yet received their miners could get a full refund.

Shortly thereafter, on September 9, it extended the refund offer to all customers.

Significant delays have kept the company’s first generation ASIC chip miners from shipping to customers. Only about 20% of orders have been delivered.

Already, 22,000 BTC worth of refunds have been issued.

In a rather strident move, the company used the second announcement to promote its next generation of ASIC chips, which are schedule for an October release.

The generation one chips were sold in packs of 10,000, at a price of 780 BTC per bundle. Those 110 nm chips could mine at 280 MH/s each.

The second generation 55 nm chips are expected to run somewhere between 2 and 4 GH/s.

Customers are now presented with four options regarding their outstanding orders.

First, they can just wait for their generation one chips, which might take a month to arrive.

Second, they can get a refund, then buy the generation one chips left over when they’re in stock at a reduced rate. It’s the same as getting paid for being bumped to the end of the line. Wait times might be two months.

Third, customers can get a refund and put that money toward generation two chips, whenever those will be available. Wait times obviously are incalculable at this point.

Fourth, they can claim a refund and just write off Avalon’s chips altogether.