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Chip designers see dollar signs in Bitcoin miners

03
Nov
2013

By Noel Randewich SUNNYVALE, California (Reuters) – Tucked away in an air conditioned data center in Silicon Valley is a hodgepodge of black boxes, circuit boards and cooling fans owned by 27-year-old Aaron Jackson-Wilde, a modern-day prospector looking for Bitcoins. Since discovering the digital currency a few months ago, Jackson-Wilde has paid about $2,000 for his rigs, which are powered by specialized computer chips. They are designed to help operate and maintain the Bitcoin network – and, in return, generate a small reward in a process known as Bitcoin mining. A form of electronic money independent of traditional banking, Bitcoins started circulating in 2009 and have since become the most prominent of several fledgling digital currencies. Bitcoin mining is based on a unique feature of the digital currency.

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