CoinTerra Launches New Pricing Model, Starts Selling Chips

Austin-based CoinTerra--which is in the unique business of developing hardware specifically for Bitcoin "mining", the process of creating the Bitcoin currency using computing power applied against a mathematical formula--has embarked on an interesting pricing experiment for its products. The company also has started to sell its ASICs to others, for developing their own Bitcoin mining machines. CoinTerra said today that it has adopted a variable, pricing model for sales of its mining hardware, offering up its hardware through daily, spot pricing. The company said the pricing reflects "ever-changing variables" that make up the Bitcoin ecosystem. CoinTerra did not say how it will determine spot pricing, exactly--but the value of its hardware is dramatically linked to the current price of Bitcoin (BTC) on the market. The company's price today was $3,799, or roughly 8.71 BTC according to Coinmill's BTC to dollar converter. In a separate move, the company said it will also start offering up its GoldStrike I ASIC for sale--in minimum quantities of 500--for others to build their own, Bitcoin mining systems.