CoinTerra and HashFast Sell $17M of Bitcoin Miners, Open Second Batch Sales

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Today CoinTerra announced that it will begin selling its second batch of bitcoin ASIC miners for January delivery. CoinTerra is led by Ravi Iyengar, previously the lead CPU Architect at Samsung Corporation prior to founding CoinTerra. He has recruited a robust team of specialists and advisors including cryptography expert Timo Hanke and bitcoin expert Tuur Demeester.

Their first batch is scheduled for delivery in December and included 2 TH/s (2,000 GH/s) TerraMiner IV units for $13,999, as well as individual 500 GH/s chips which were sold in bulk quantities. Using a similar pricing scheme as Bitfury, who offered customers different prices for August and October deliveries, CoinTerra is reducing the prices for the TerraMiner IV and introducing a lower priced TerraMiner II which will run at 1 TH/s.

CoinTerra has almost completely sold out their first batch, which totaled 2 PH/s (2,000,000 GH/s). The 2 PH/s consisted of 4,000 individual 500 GH/s ASIC chips, with each of the TerraMiner IV units using four chips in parallel. Iyengar stated that a majority of their pre-orders so far have been for TerraMiners, as opposed to bulk chip orders, and this was split evenly between retail and larger orders. This would amount to around 1,000 TerraMiner IV’s expected to ship in December, netting CoinTerra $14,000,000 at retail value, though bulk order discounts likely reduced this top line number.


HashFast announced on Monday that after selling out their first batch of 550 Baby Jet miners, expected to ship in October, they have opened a second batch of orders as well. Each Baby Jet is expected to run at 400 GH/s, is powered by a single ASIC chip and sold for $5,600. To design and manufacture the chip they partnered with Uniquify, an established silicon design company. They completed tape out at Taiwan Semiconductor Manufacturing Company (TSMC) last week and are on pace for their scheduled ship date.

Hash Fast’s second batch is expected to ship in November. They introduced a reduce price for the Baby Jet at $3,500, as well as a new product: the Sierra, running at 1200 GH/s for $9,500. The Sierra will use three ASIC chips and is targeted more towards data centers with their rack mount casing.


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About the author  ⁄ Phillip Archer


  • Reply
    September 12, 2013

    Hello !

    How about the VMC and Xcrowd ?

    What do you know about these producers? Can be trusted ? Have delivered anything yet ?

    Regards !

  • Reply
    September 12, 2013

    Everything vaporware and preorders, be careful. The only ones who delivered real working devices so far are: ASICMiner, Avalon, BFL and Bitfury.

    • Reply
      September 13, 2013

      Cointerra is actually the first bitcoin hardware company Id consider trusting. Check out the team, then compare it to the management team of BFL. One consists of widely respected and proven industry specialists, the other of convicted conmen and serial liars. Not that it matters too much, none of those ASICs is likely to produce a positve ROI, so Im not buying from anyone, but putting more trust in BFL than Cointerra is a bit laughable. Also note BFL is just using Cointerra’s chip for the 28nm miner, what are the chances of them being able to come to market sooner and with a better product than cointerra themselves? Zilch.

      • Reply
        September 16, 2013

        ROI on their products is dismal.

  • Reply
    September 14, 2013

    If everything is too good to be true, probably it is

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