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SYS-CON MEDIA Authors: Ian Goldsmith, Ed Featherston, Elizabeth White, Pat Romanski, Liz McMillan

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NimbusMining and Butterfly Labs Take Bitcoin Mining to the Masses

AVENTURA, Fla.and OVERLAND PARK, Kan., Jan. 27, 2014 /PRNewswire/ -- NimbusMining (www.nimbusmining.com), a cloud-mining company that enables individuals to benefit from mining bitcoin without having to purchase or operate hardware, announced a partnership today with Butterfly Labs (BF Labs, Inc), a leading bitcoin mining hardware (www.butterflylabs.com) manufacturer. Together they will provide cloud-based bitcoin mining services that are available for purchase today and running immediately on Butterfly Labs 65nm technology equipment.

(Logo: http://photos.prnewswire.com/prnh/20140127/PH52660LOGO-a )

(Logo: http://photos.prnewswire.com/prnh/20140127/PH52660LOGO-b )

Until now, bitcoin mining operations have benefitted mostly tech-savvy people and sophisticated investors. With NimbusMining's Managed Bitcoin Mining Cloud the average consumer can also mine bitcoin. NimbusMining requires a minimum twelve-month contract paid in advance with no monthly fees. NimbusMining does not keep any of the bitcoins mined.

"We're pleased to be offering NimbusMining cloud contracts on our website and to have been chosen as the preferred hardware supplier for NimbusMining," remarked Jeff Ownby, Butterfly Labs VP of Marketing. "65 Nm technology contracted by NimbusMining will be supporting these mining contracts today, and as we deliver pre-ordered 28Nm products to NimbusMining in the future, customers will have access to the most advanced technology available. We believe that market trends propelling cloud based services elsewhere are also valid in the bitcoin space, and although Butterfly Labs will continue to sell bitcoin mining equipment to people who want to mine directly, we plan to be an important player in the emerging cloud market, as well."

"Butterfly's technology is robust and reliable and most importantly we have BFL's 65Nm equipment on hand already," said Greg Bachrach, co-founder and CEO of NimbusMining. "We strongly believe that bitcoin mining will move to the cloud and it is our mission in the CoinWare group, which is the parent company of NimbusMining, to make bitcoin mining more broadly available and accessible to the average consumer."

Bachrach also pointed out, "Some key differentiators of the NimbusMining service are that there are no monthly fees and we do not keep any of the bitcoins mined by our customers. Also, we have built a high availability service with both equipment redundancy and datacenter redundancy."

About Butterfly Labs

Butterfly Labs (BF Labs, Inc) is a Kansas-based manufacturer of hardware used for securing online transactions in the Bitcoin and other networks.

Visit http://www.butterflylabs.com.

Contact
Jeff Ownby
708-601-4170
Email

About NimbusMining

NimbusMining is a cloud-mining company enabling all individuals to benefit from mining bitcoins without having to purchase or operate any hardware.

Visit http://www.nimbusmining.com.

Contact
Alex Gutierrez
305-974-1585
Email

Read more news from Butterfly Labs

SOURCE Butterfly Labs

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