diff --git a/README_ASIC.md b/README_ASIC.md
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+# ASIC timelord user guide
+
+## Initial setup
+
+Download and unpack LibFT4222 library:
+```bash
+# in chiavdf directory
+wget https://ftdichip.com/wp-content/uploads/2022/06/libft4222-linux-1.4.4.170.tgz
+mkdir src/hw/libft4222
+tar -C src/hw/libft4222 -xf libft4222-linux-1.4.4.170.tgz
+ln -s libft4222.so.1.4.4.170 src/hw/libft4222/build-x86_64/libft4222.so
+```
+
+Build binaries:
+```bash
+cd src
+make -f Makefile.vdf-client emu_hw_test hw_test emu_hw_vdf_client hw_vdf_client
+```
+
+Connect the Chia VDF ASIC device and verify that it is detected:
+```bash
+# in chiavdf/src/ directory
+LD_LIBRARY_PATH=hw/libft4222/build-x86_64 ./hw_vdf_client --list
+```
+
+If the device is shown in the list, check if it's working:
+```bash
+LD_LIBRARY_PATH=hw/libft4222/build-x86_64 ./hw_test
+```
+
+Output should contain lines similar to the following:
+```
+VDF 0: 1000000 HW iters done in 2s, HW speed: 714720 ips
+```
+
+## Running
+
+You should have a Chia full node running and synced.
+
+Start timelord (but not timelord-launcher) in chia-blockchain:
+```bash
+chia start timelord-only
+```
+
+Start hardware VDF client (`8000` specifies timelord's port number):
+```bash
+# in chiavdf/src/ directory
+LD_LIBRARY_PATH=hw/libft4222/build-x86_64 ./hw_vdf_client 8000
+```
+
+The VDF client accepts a number of options:
+```
+Usage: ./hw_vdf_client [OPTIONS] PORT [N_VDFS]
+List of options [default, min - max]:
+  --freq N - set ASIC frequency [1100, 200 - 2200]
+  --voltage N - set board voltage [0.88, 0.7 - 1.0]
+  --ip A.B.C.D - timelord IP address [localhost]
+        Allows connecting to a timelord running on a remote host. Useful when running multiple machines with VDF hardware connecting to a single timelord.
+  --vdfs-mask N - mask for enabling VDF engines [7, 1 - 7]
+        The ASIC has 3 VDF engines numbered 0, 1, 2. If not running all 3 engines, the mask can be specified to enable specific engines. It must be the result of bitwise OR of the engine bits (1, 2, 4 for engines 0, 1, 2).
+  --vdf-threads N - number of software threads per VDF engine [4, 2 - 64]
+        Number of software threads computing intermediate values and proofs per VDF engine.
+  --proof-threads N - number of proof threads per VDF engine
+        Number of software threads only computing proofs per VDF engine. Must be less than --vdf-threads.
+  --auto-freq-period N - auto-adjust frequency every N seconds [0, 10 - inf]
+  --list - list available devices and exit
+```
+
+## Shutting down
+
+Stop timelord:
+```bash
+chia stop timelord-only
+```
+
+Stop the VDF client by pressing Control-C or killing the process with `SIGTERM`.
diff --git a/src/hw/readme.txt b/src/hw/readme.txt
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index e9e7445a..00000000
--- a/src/hw/readme.txt
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@@ -1,84 +0,0 @@
-Build instructions:
-
-Start in the top dir of 'chiavdf' repo.
-
-cd src/hw
-# create symlink to libftd2xx package
-ln -s ../../path/to/libftd2xx
-cd ..
-make -f Makefile.vdf-client emu_hw_main hw_main emu_hw_vdf_client hw_vdf_client
-
----
-
-Running with emulated HW:
-./emu_hw_main 3 100000
-
-Running with real HW:
-./hw_main 3 1000000
-
-The arguments are the number of VDF engines (1, 2 or 3) and the number of iterations to run.
-
----
-
-To run with an emulated timelord, first build 'chiavdf' Python module:
-# start in the top chiavdf directory
-python3 setup.py build
-
-Start emulated timelord (replace 3.7 in directory name if your Python version is not 3.7):
-PYTHONPATH=build/lib.linux-x86_64-3.7 python3 src/tl_emu.py
-
-Start VDF client in another terminal (8000 is the TCP port number):
-./hw_vdf_client 8000
-
-Alternatively, run with the emulated HW:
-./emu_hw_vdf_client 8000
-
----
-
-To run the hardware VDF client with a Chia timelord in testnet:
-
-Install Chia blockchain (skip the GUI part as it won't be needed):
-https://github.com/Chia-Network/chia-blockchain/wiki/INSTALL
-
-Configure testnet10 (or a different testnet as needed):
-https://github.com/Chia-Network/chia-blockchain/wiki/How-to-Connect-to-the-Testnet
-
-Start a local full node (in chia-blockchain directory; Python venv should be already activated):
-chia start node
-
-Change log level in config file (it is likely located in ~/.chia/mainnet/config/config.yaml):
-...
-    log_level: INFO
-
-Start timelord (in chia-blockchain directory):
-chia start timelord-only
-
-Start HW VDF client (in chiavdf/src directory):
-./hw_vdf_client 8000
-
-Watch timelord logs, the following lines would indicate the proofs are coming:
-tail -f ~/.chia/mainnet/log/debug.log
-...
-2023-02-10T17:54:46.719 timelord chia.timelord.timelord   : INFO     Finished PoT chall:627fdf36c81a1399393f.. 1720038 iters, Estimated IPS: 53739.7, Chain: Chain.CHALLENGE_CHAIN
-2023-02-10T17:54:48.581 timelord chia.timelord.timelord   : INFO     Finished PoT chall:7ea19c8a61ee0691c1d6.. 1720038 iters, Estimated IPS: 50785.0, Chain: Chain.REWARD_CHAIN
-
-To stop running hardware VDF client and timelord, first stop the VDF client using Ctrl-C, then shut down the timelord:
-chia stop timelord-only
-
----
-
-Arguments and options for hw_vdf_client and emu_hw_vdf_client:
-
-Usage: ./hw_vdf_client [OPTIONS] PORT [N_VDFS]
-List of options [default, min - max]:
-  --freq N - set ASIC frequency [1100, 200 - 2200]
-  --voltage N - set board voltage [0.88, 0.7 - 1.0]
-  --ip A.B.C.D - timelord IP address [localhost]
-        Allows connecting to a timelord running on a remote host. Useful when running multiple machines with VDF hardware connecting to a single timelord.
-  --vdfs-mask - mask for enabling VDF engines [7, 1 - 7]
-        The ASIC has 3 VDF engines numbered 0, 1, 2. If not running all 3 engines, the mask can be specified to enable specific engines. It must be the result of bitwise OR of the engine bits (1, 2, 4 for engines 0, 1, 2).
-  --vdf-threads N - number of software threads per VDF engine [4, 2 - 28]
-        Number of software threads computing intermediate values and proofs per VDF engine.
-  --proof-threads N - number of proof threads per VDF engine
-        Number of software threads only computing proofs per VDF engine. Must be less than --vdf-threads.
-  --list - list available devices