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Press Release: http://www.prweb.com/releases/Bitcoin0mining0terrahash/bitcoin0asic0mining/prweb11093344.htm

Santa Clara, CA (PRWEB) September 05, 2013

In a move to significantly reduce the costs for mining Bitcoins, TerraHash has announced a hosted solution of 2 PetaHash mining power at the rate of $6 per Giga Hash. The company will create a Bitcoin mining farm, and sell portions of the mining power to its customers.

Matt, the company spokesman explained, “We are in the final stages of signing a groundbreaking deal with a leading Bitcoin ASIC manufacturer. Leveraging their 28nm chip technology, we plan to host a mining farm starting with at least 2 PetaHash in November. Our customers will be able to buy blocks of 500 GigaHash of mining power for $3000 each. This will include all manufacturing and storage costs for hosting the equipment. Customers will pay a small monthly fee, which will cover electricity, maintenance etc. Our data center will have a 99.9999% up time guarantee. Being located in the Santa Clara county, we have access to some of the lowest cost of electricity. This allows us to create economies of scale for the mining world.”

Terming it as the next natural evolution of Bitcoin mining, he compared the plan with services provided by other cloud computing companies. “For instance, we have seen the computing industry evolve in a similar fashion. Initially, companies hosted their own servers in their offices. Then, we saw the emergence of data centers which provided with the optimum infrastructure to run your servers efficiently. Finally, a few major players (like Amazon, RackSpace) began providing the end user with the flexible concept of renting storage space, without being bound to the physical hardware. We expect a similar transition in the Bitcoin mining world,” he said.

At a time when most Bitcoin mining equipment manufacturers seem to be more focused on accumulating maximum pre-order money, TerraHash is once again planning an innovative strategy. They plan on only taking 25% of the money upfront, and the rest when the hardware is ready to be hosted. Pre-orders will open up this coming week, and mining is set to begin by end of November. The company also plans on offering an “insurance” plan for the customers, to cover up any potential delays in the timeline for mining.

Matt further said that, “We have learnt a lot from our experience assembling Avalon ASIC chips. Customers want a solution that can be delivered very fast, because of the ever increasing network difficulty. On the same hand, they do not want to risk a lot by investing in an unproven technology. By only demanding a 25% reservation fee, we are reducing their risk significantly.”

At $6 per GigaHash, the pricing is nearly half of the nearest competitor. Along with that, a November timeline would promise delivery much earlier than any other company. In an industry where time to delivery is the most critical element, TerraHash claims to be heading for the final evolution in Bitcoin mining.

More details will be coming soon.

[K16: $90.00 / board.K64: $250.00 / board.]

Most of you know that we have successfully assembled a K16 (Klondike design by BkkCoins) and are one of the first to get it mining (video below). Our design is based on BkkCoin's Klondike board. He has finalized the design and it is ready for production. We have decided to start taking pre-orders for assembly, for those who have ordered Avalon chips and would like to get them assembled. We will be assembling both K16 and K64 boards (K64 is just 4 K16s printed on the same board, connected with I2C cables/jumpers). K16 requires 16 Avalon chips, ad K64 requires 64 Avalon chips. Our boards will come with heatsinks and I2C cables (to daisy chain multiple boards). The boards can be daisy chained together, and only one of them has to be connected to a computer or a RasPi board running cgminer (cgminer driver is almost ready). The software required to run the boards will be available for free download.

http://www.youtube.com/watch?v=GOZ22GfUdzs

Here are our prices for assembly:

K16: $90.00 / board.
K64: $250.00 / board.

Although our assembly facility can assemble up to 250 K64 boards a day (or 1000 K16 boards a day), we are expecting a huge rush initially due to a large number of chips being shipped by Avalon. 50% of the assembly resources will be dedicated to orders where TerraHash supplies the chips (full orders), and other 50% to the orders where you provide chips to TerraHash (assembly-only orders). With this we can ship the already pre-ordered full orders within the promised time of 2 weeks of receiving the chips. And for assembly-only orders, we will do our best to ensure a two week turnaround as well. However, it could be a little more during the initial rush. That is why we have decided to let people reserve a spot for assembly.

Here is how the assembly-only orders will be processed: For all the orders for which we have received the chips, we will start assembling the order which was placed first. We will not start processing an order until we receive all the chips required to process that order. Also, we will not be doing partial assembly, that is, we need 64 chips for the K64 and 16 chips for the K16. We can not assembly a K16 with less than 16 chips. We can not assemble a K64 with less than 64 chips.

Therefore, when your order gets processed depends upon two factors: When you placed the order, and when your chips are delivered to us.

We will start taking assembly-only pre-orders later this week. In order to reserve your spot for assembly you have to pay only 5% right now. You can pay the balance any time before we receive your chips. However you have to pay in full for us to start processing your order.

Website: https://terrahash.com

We are trying to place an order for additional 20,000 chips and instead of the payment page, we are being redirected to http://store.avalon-asics.com/null.

When was the last time anyone successfully placed an order?

[0.75 BTC]

We have decided to provide hosting for Avalon Chips. You send us your Avalon Chips, we will mount them on BkkCoins' Klondike 64 boards, and host them for you. Alternatively, you can buy our Modular boards or Kits that already come with Avalon chips, and we will host them. You can ask for your hosted boards/kits to be shipped to you anytime you want. We will provide free repair/replacement for the defective parts in case of a failure in any equipment that is hosted by us.

Here is the price for assembly of the boards if you send us your chips:
4.5 GHash/sec boards containing 16 chips: 0.75 BTC
18 GHash/sec boards containing 64 chips: 1.99 BTC

Here is the price for boards/kits that come with Avalon chips (we provide the chips):
4.5 GHash/sec boards containing 16 chips: 1.99 BTC
18 GHash/sec coards containing 64 chips: 6.99 BTC
TerraHash DX Mini (90 GHash/sec): 49.99 BTC
TerraHash DX Large (180 GHash/sec): 84.99 BTC


Here is the hosting price:
4.5 GHash boards: $3.00 per month per board.
18 GHash boards: $10.00 per month per board.
TerraHash DX Mini: $30.00 per month/unit.
TerraHash DX Large: $50.00 per month/unit.

All the hosted equipment will mine in a pool, and Bitcoins mined will be divided according to the hash power owned by you, and deposited into your Bitcoin address every 2-3 days. We will not take any share from mining, and the hosting prices will be revised on an yearly basis.

Again, we haven't started taking pre-orders yet. If you are interested in our products, sign up for an account here: http://terrahash.com/my-account/ and we will let you know when we start taking orders.

For more information, visit: http://terrahash.com

[Update June 13]

TerraHash will sell ASIC Bitcoin mining gear using the Avalon ASIC chips. More information: http://www.terrahash.com

Basically what we are doing is as follows:

• We have ordered 20,000 chips from Avalon. We will be ordering Klondike boards, as soon as the design is ready. We are in process of ordering all the other components. Once we have everything, we will assemble the boards and sell them.
• Once we have all the components, we will start taking orders for board assembly. In this case, you will send us your chips, we will put them on a boards along with other components and ship them back to you, for a fee of course
• We will also be offering plug and play kits with an enclosure, power supply, cooling fas, cables etc.

Update June 13

We now have sample Avalon chips and few board. Will update when we assemble one.

http://terrahash.com/sample-avalon-chips-and-klondike-16-boards/




Update June 6

We have finished designing the case for TerraHash DX Large.

http://terrahash.com/product/terrahash-dx-large/






I will answer all the questions asked below as FAQ here:

Q. Are you going to design your own PCBs?
A. No, we will be using BkkCoins' Klondike design. We are already in talks with him for a bulk order. But of course, we are still waiting for specs from Avalon, before he can finish the design.

Q. So u actually have nothing for sale, right ? this is just another pre-order story?
A. We are not accepting any pre-orders at this time. We will start accepting orders only when we have products ready to ship.

Q. any ETA for one of your products ?
A. We are still waiting for Avalon to release the specs. As soon as they do it, BkkCoins will hopefully finish the design and be able to send us some boards within 7-10 days, or we will try to get some manufactured locally here in Bay Area. The turn around time for boards is usually 3-4 days. So we hope we will have boards in 2 weeks. After that we will do some testing for about 2 weeks. Basically within a month, we will be ready to assemble and ship upto 250 boards a day, given that we have the Avalon chips. Now that is a big variable, we have no idea when we will get the chips. However we will start taking orders for the assembly service, so that in case you receive your chips, you can send them over to us and we will start assembling your boards.

Q. I have my own chips, can I send them to terrahash for assembly?
A. Yes, that's one of the services we provide. Look at http://terrahash.com/product/4-5-ghsec-modular-board-assembly-only/ and http://terrahash.com/product/18-ghsec-modular-board-assembly-only/

Q. Is there anyone offering hosting of these rigs yet? Can I ship direct to hosting company?
A. We don't know. We don't plan to do it. Yes, we can ship your rigs wherever you want us to ship them.

Q. Do you have any price range for full plug & play product made from chips you ordered?
A. There are two plug and play models we have. DX Mini and DX Large. DX Mini starts from 11.99 BTC with one module. Every additional module is 1.99 BTC. DX Large starts from 21.99 BTC with one module. Each additional module is 6.99 BTC.

Q. Will you do escrow?
A. No.