16 Nov '13, 12am

This company made $3M in 4 days as part of the Bitcoin gold rush

This company made $3M in 4 days as part of the Bitcoin gold rush

Dec. 4 - 5, 2013 Redwood City, CA Tickets on Sale Now KnCMiner is one of the companies raking it in from the most recent Bitcoin gold rush. The company sold $3 million worth of its Bitcoin mining machines in a four-day trading frenzy of the alternative currency, selling 5,000 machines between Nov. 7 and Nov. 10. In this same time period, Bitcoin’s value increased by 27 percent, from $264 to $336. Bitcoin is a decentralized “crypto-currency” in which transactions are anonymous and happen through a peer-to-peer network. The value of the digital currency has sharply climbed over the past week. It crossed $400 yesterday , and the price is now up 3,000 percent from January. Chinese demand is widely cited as the main driver of the recent Bitcoin boom, but tech advancements that make it easier to mine, buy, sell, and trade Bitcoins are what brought it in from the fringes. KnCMine...

Full article: http://venturebeat.com/2013/11/15/this-company-made-3m-in...

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