HashPlex has raised $400,000 to allow you to outsource bitcoin mining

Bitcoin miner hosting company HashPlex has completed a $400,000 seed round led by Barry Silbert of SecondMarket and senior Facebook engineer Jason Prado. Bernie Rihn, co-founder of HashPlex, said the funding would enable his company to complete its 1MW HashCenter in central Washington, east of Wenatchee, and continue developing custom hardware and software. “HashPlex needs to move quickly while maintaining a level of great service, and this investment will help us continue to do so,” he said.

Are too many Bitcoin mining rigs making your office or home unspeakably hot or noisy? You can just outsource it to someone else. Or at least that’s the premise behind HashPlex, a cryptocurrency-miner hosting company that just raised $400,000 from investors including SecondMarket co-founder Barry Silbert’s Bitcoin Opportunity Corp. and Facebook engineer Jason Prado. Basically, you just ship your hardware to HashPlex, which is based in Seattle, specify what mining software you want to use, and they say they’ll take care of the rest for anywhere from $89 per Kilowatt used constantly over the course of a month to more expensive, custom levels of service. A very loose analogy would be AWS (Amazon Web Services) for Bitcoin mining. In the Bitcoin world, some people like to buy the crypto-currency outright on exchanges like Bitstamp.

By Scarlett Madison

+Scarlett Madison is a mom and a friend. She blogs for a living at Social News Watch but really prefers to read more than write. Find her on Twitter, Facebook, and Pinterest.

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