24 Jan '14, 11pm

Vegas-based CoinSeed plows $5M into bitcoin mining rigs, becomes an immediate market force

Vegas-based CoinSeed plows $5M into bitcoin mining rigs, becomes an immediate market force

Vegas-based CoinSeed plows $5M into bitcoin mining rigs, becomes an immediate market force By Michael Carney On January 24, 2014 Bitcoin mining has shifted rapidly over the last year from the domain of hobbyists with everyday home PCs to an undertaking that requires significant investment in customized equipment. Today, news emerged that Las Vegas-based bitcoin investment fund CoinSeed made a $5 million investment in BitFury 55 nanometre bitcoin hardware, which are capable of operating at a staggering 1522 GH/s. The deal sets the stage for CoinSeed to be one of the largest mining operations in the US. Many of the world’s dominant mining operations are based in places like Iceland and Eastern Europe where energy prices and real estate prices offer potential cost savings help offset the high cost and narrow margins of solving bitcoin’s cryptologic puzzles. Other groups opera...

Full article: http://pando.com/2014/01/24/vegas-based-coinseed-plows-5m...

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