Austin Bitcoin mining company hits milestone

Mar 3, 2014
Austin Business Journal

Cointerra Inc., the Austin-based tech startup that makes powerful computers designed to "mine" bitcoins, has sold its 1,000th TerraMiner since launching the product a month ago,  the company said in a news release


The TerraMiner units now accounts for more than six percent of Bitcoin mining computers worldwide


The machines mine for bitcoins by processing other Bitcoin transactions (Bitcoin.org has a good, brief explainer on  what mining actually is). The TerraMiners IV unit that Cointerra produces will set you back about $5,500 in old-fashioned U.S. currency


Austin has been making waves in the world of digital currency of late. The Austin Bitcoin community will host the  Texas Bitcoin Conference on March 5-6 at the Circuit of The Americas, and the city is also the site of one of the first Bitcoin ATMs in the U.S.


CoinTerra, which launched in August,  raised $1.3 million from investors in October


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