26 Apr '13, 10am

Wired Fires Up New Bitcoin Miner, World Drools

Bitcoin miners, we understand your envy. Wired has taken possession of a 5-Gigahash per second Bitcoin Miner, built by Butterfly Labs — a.k.a. our very own digital money printing press. Or something like that. We’ve powered up the miner and can confirm that its little red light turns on, that it burns hot, and that it makes the sound of a toy hair dryer. Whether it will melt or make you rich or not remains to be seen. Bitcoin mining is a bit of a zero-sum game. The Bitcoin peer-to-peer network produces 25 bitcoins every 10 minutes. That’s a constant. But people who have more cryptographic processing power have a better chance of winning those 25 bitcoins, and these days, there’s an ongoing race to up the compute power on the network. Butterfly Labs is one of a handful of companies that has taken this race to the next level, producing custom processing machines that are des...

Full article: http://www.wired.com/wiredenterprise/2013/04/butterfly/

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