The bitcoin network reached another historic milestone milestone today, achieving an estimated total computational speed of 1 petahash per second (1 PH/s = 1,000,000 GH/s). The current speed is 40x faster than where we began the year, faster than 79% of the bitcoin community expected as of just seven months ago. The path to this point goes back to the genesis block itself and offers insight into the foundations of the world’s first digital currency. In the Beginning After Satoshi mined the genesis block on January 3, 2009, the first difficulty increase took nearly a full year, occurring on December …

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CoinTerra 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 …

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Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. The full-blown bitcoin mining arms race continues, as the eASIC/ActiveMining partnership announced more details on their ASIC bitcoin miner line that tops out at 24 TH/s. ActiveMining is a publicly traded bitcoin mining company who has partnered with eASIC to develop a 28nm application specific integrated circuit (ASIC) chip. ActiveMining is the parent company of Virtual Mining Corp (VMC), which is the business entity selling mining products to consumers. To design and manufacture the chips they teamed up with eASIC, a semiconductor company that’s …

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Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. Bitfury’s resellers have begun shipping their 400 GH/s “Full Kits” to customers. After initial accounts of prototypes successfully mining on August 2nd, full production units are now ready. Over the last year Bitfury, a Russian ASIC bitcoin mining manufacturer, has been quietly developing a 55nm ASIC chip that runs around 3 GH/s. Bitfury sold bulk quantities of chips to US and EU distributors who partnered with “100 TH/s”, a publicly traded mining company, to develop fully functional units. The ASIC chips must be set …

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Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. Today Cointerra released more information on their ASIC bitcoin miner product line, as well as a more competitive pricing on the 2 TH/s miner. Cointerra is led by Ravi Iyengar, who was lead CPU Architect at Samsung Corporation prior to founding Cointerra. He has recruited a robust team of specialists and advisors including their most recent announcement of Timo Hanke as their Lead Cryptographer, who brings with him 15 years of research experience in computer algebra and number theory. Application specific integrated circuits (ASIC) …

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After a month of silence from Avalon on the status of over 800,000 ASIC chips that had been pre-ordered, there were indications that chips may be arriving soon when two group buys announced they received tracking numbers late last week. Application specific integrated circuits (ASIC) are specialized chips that perform bitcoin mining calculations. Starting in mid-April, Avalon sold bulk orders of ASIC chips in batches of 10,000, with each chip hashing at an estimated 400 MH/s overclocked. Today Bitmine.ch posted pictures showing the arrival 10,000 Avalon ASIC chips, indicating that thier Batch #1 pre-orders should be expecting delivery soon. Bitmine.ch …

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Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. It appears the Avalon ASIC drought may turn into a hashing power tidal wave as reports surface that the first 20,000 out of a remaining 800,000 ASIC chips are on their way to customers. Application specific integrated circuits (ASIC) are specialized chips that perform bitcoin mining calculations. Starting in mid-April, Avalon sold bulk orders of ASIC chips in batches of 10,000, with each chip hashing at an estimated 400 MH/s overclocked. Although Avalon initially estimated a 10-week lead time after orders were placed, hundreds of …

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Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. Butterfly Labs (BFL) recently announced a new $4,600 bitcoin mining product that operates at 600 GH/s. The new miner is called the Monarch and will be the same form factor as a standard graphics card. Their second generation ASIC chip will use a 28nm process compared to the 65nm of their first generation. Application specific integrated circuits (ASIC) are specialized chips that perform bitcoin mining calculations. ASIC nodes are measured in nanometers (nm) and smaller nodes allow for faster and more power efficient designs. The …

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Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. Today, Cointerra announced the TerraMiner IV: a 2 TH/s ASIC bitcoin miner retailing for $15,750, with a forecast shipping date in December. Cointerra is lead by Ravi Iyengar, who previously worked as lead CPU architect for Samsung, according to Cointerra’s website. The 2 TH/s miner will be powered by 4x28nm ASIC chips running at 500 GH/s each. Application specific integrated circuits (ASIC) are specialized chips that perform bitcoin mining calculations. ASIC nodes are measured in nanometers (nm) and smaller nodes allow for faster and more …

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Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard. In early 2013 bitcoin mining saw the start of the application specific integrated circuit (ASIC) revolution. ASICs are customized components that perform the calculations necessary for bitcoin mining significantly faster than any hardware that came before it. To anyone following the exponential growth that has occurred over the last six months it is clear that this story is nowhere near finished. The Current ASIC Environment There are two factors driving ASIC adoption: ASIC chip design, which is limited by technical expertise, and production capacity, which …

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