Bitcoin mining ASIC processor and systems manufacturer CoinTerra has announced it will offer hosted mining contracts.
The Austin-based company says customers can now purchase plans ranging from 200 gigahashes (GH/s) to more than 1 petahash (PH/s) with immediate deployment.
CoinTerra framed the move as an extension of its mission to bring bitcoin mining to more consumers around the globe.
Ravi Iyengar, CoinTerra’s CEO, explained:
“Many prospective bitcoin miners don’t have the space or power requirements to operate their own bitcoin mining hardware, especially at scale. In addition, some foreign countries have import restrictions on advanced cryptocurrency hardware or punitively high duties"
The new contract offering, Iyengar said, would allow these consumers broader access to bitcoin mining products.
The
hosted mining service will be powered by TruePeta, a new scalable
system built on top of the company’s GoldStrike I ASIC and TerraMiner
platform, which hit its tape-out stage in December. CoinTerra shipped its 5,000th TerraMiner unit in April.
Still,
while the offering is likely to find demand in the current market, not
all consumers have been satisfied with CoinTerra’s service to date, as the company, like many other consumer-focused mining companies, has struggled with performance and delivery issues.
Entering the market
CoinTerra said it now offers a range of hosted hosted mining plans,
starting at $999 for a 12-month 200GH/s rental. One PH/s mining
contracts, the release suggested, would require a two-year commitment.
Given
that CoinTerra manufactures its own equipment, CTO Timo Hanke suggested
that the move will allow the company to deploy orders more rapidly than
its established competitors in the hosted mining space.
Further, he added that the company is able to provide a host of extra services as well, stating:“The systems are monitored by a team of experienced engineers, ensuring 24/7 uptime in a controlled and secure managed environment.”
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