27 Aug '13, 1pm

Chip veterans form new startup, will sell high-end Bitcoin miner for $16,000 by @cfarivar

On Tuesday, a new Bitcoin startup called CoinTerra announced that it raised $1.5 million in venture capital. This likely puts the company in a position to dominate the Bitcoin hardware market—assuming it can come through on its promises. Earlier this month, CoinTerra revealed the TerraMiner IV, a two terahash per second ASIC Bitcoin miner that will sell for $15,750 and is set to ship in December 2013. (An ASIC is a specialized computer designed to one specific task, in this case the goal is mining bitcoins .) By contrast, the one that Ars tested earlier this year was a five gigahash per second device made by Butterfly Labs. That company also makes a 500 gigahash per second ASIC miner that costs over $22,000. So if CoinTerra's TerraMiner IV ships as described, it will be one of the highest-end and relatively lowest cost miners available. When Butterfly Labs (BFL) began, it ...

Full article: http://arstechnica.com/business/2013/08/chip-veterans-for...

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