As suppliers continue to ramp up production numbers the price of blank 12-inch silicon wafers continues to fall. Early in the year 12-inch blank wafers were about US$500, but have since fallen to $200, reflecting the nearly three-fold production increases by some suppliers. I wouldn't even care to guess what the prices are now probably a few dollars the most.
Again Avalon has hundreds of chips on their unit, and they were able to make a profit on it at $1200 and that was hundreds of chips so I'm sorry but i think you are way off with your pricing.
Your comparing apples to oranges. Unless you OWN a fab you price isn't a blank silicon wafer, it is a printed silicon wafer. No 28nm fab is offering runs @ $500 a wafer.
Ok I'm not going to argue anymore final point which has been made over and over again. Avalon Batch #1 $1200 say 96 chips that means $12.5 per chip. Say the cost is much more since it's 28nm lets triple the cost, $37.5 per 28nm chip add all the other costs say $200 a chip. 1 of their chips is 500gh/sec 2 chips to make 1TH equals $400 dollars costs, so they can def. sell for $1000 per GH.
The only reason for the price to be higher is that they are trying to recover their designing and developing costs, not the actual cost of the chips. Case in point again:
Intel Core i3-3225 22nm even smaller selling for $139.99 for a profit. Please enlighten me about these high magical costs of yours, actually please don't because clearly you are wrong or else Avalon chips wouldn't cost $12.5 and Intel chips $30-$100