Bitcoin Mining Company Has Sold $28 Million-Worth Of Its New Mining Hardware

kncminer-neptune314 Dec 2013 / Seattle PI – Bitcoin businesses are booming, especially now that 42% of Americans know what Bitcoin is — but there remain few businesses as revenue-rich as Bitcoin mining development.

Background: Bitcoins are mined by computers unscrambling blocks of “hashes” or complex strings of numbers and letters. This tends to be an expensive and labor-intensive proposition — the fastest miners now cost thousands of dollars, and they eat up lots of electricity and manhours of setup.

We recently reported that Knc Miner, a Swedish developer of Bitcoin miners, had sold $8 million of its latest model, the Neptune, in 24 hours. When it drops in early 2014 (the date remains a bit amorphous), the Neptune could be the most powerful and efficient miner in the world, depending on what the competition looks like at that time (it’s impossible to say how many Bitcoins it can mine because the mining difficulty rate, which goes upward as more Bitcoins are mined, will have changed when it’s released)….. Read more

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