22 Jul '13, 1pm

Inside Butterfly Labs: The ASIC bitcoin mining arms race

CoinDesk’s Daniel Cawrey recently visited and toured the facilities at Butterfly Labs , one of the most prominent and written about producers of bitcoin mining technology. In this second part of this series, he reports on the factors involved in the bitcoin mining arms race. Now that Butterfly Labs is shipping ASIC bitcoin miners at a steady pace, their production plus that of Avalon and mining pools like ASICMiner are causing the mining difficulty to go up quite quickly. What this means is that it takes more computational power to complete proof of work algorithms. It means that a race is now on to offer the most processing power, but will also mean that other technical elements will come into play very soon. I asked Butterfly Labs if the rise in mining difficulty is causing an increase in sales which might be leading to the price fluctuations. They didn’t seem overly con...

Full article: http://www.coindesk.com/inside-butterfly-labs-the-asic-bi...

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