CoinTerra Enters Cloud Mining Realm: Offering Mining Contracts

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Austin, Texas-based CoinTerra has announced on Monday mining contracts, in a move that will see the popular mining hardware producer enter the cloud mining realm.

The company, who says they’ve delivered over 10 petahash of bitcoin mining hardware to customers (which powers 15 percent of the bitcoin network), announced plans ranging from 200 GH/s to above 1 PH/s.

The company says they’re able to offer these plans below industry averages.

“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, but our new mining contracts truly enable mining without borders,” said company CEO Ravi Iyengar.

If you were curious about the pricing scheme, here it is:

[blockquote style=”2″]CoinTerra’s Bitcoin mining contracts offer a range of performance plans, with introductory pricing starting at just $999 for a 12 month, 200 GH/s mining contract and going all the way up to a 1 PH/s, 24 month contract. When ordering, customers can combine multiple contracts to create personalized hash power plans. After the mining contract is activated, customers receive weekly payouts to their Bitcoin wallet address, based on the hash power of the bitcoin mining contract(s) purchased.[/blockquote]

The system, dubbed TruePeta, is built on the company’s GoldStrike ASIC and TerraMiner platform, which they say is hosted in a state-of-the-art Tier-3 data center.

“Unlike other cloud mining solutions, CoinTerra builds its own hardware, so we can rapidly deploy multi-Petahash solutions on-demand to the datacenter. The systems are monitored by a team of experienced engineers, assuring twenty-four seven uptime in a controlled and secure managed environment,” said Dr. Timo Hanke, CTO at CoinTerra.

The mining contracts from CoinTerra are available immediately. Find more information at mining.cointerra.com.