SCOTTSDALE, AZ, Bitcoin mining hardware and computer company that provides solutions to Bitcoin miners on an international level has secured an additional $3 million in a second round of financing.
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Avalon Clones is a Bitcoin mining hardware and computer company that provides solutions to Bitcoin miners on an international level. Avalon Clones announced today that it has secured an additional $3 million in a second round of financing. Avalon Clones secured an initial round of $1.5 million in seed funding earlier in the year. The initial funding allowed the company to establish itself and achieve its initial objective of reverse engineering Avalon Batch 1 PCB boards and begin taking system pre-orders. With the company working to fill initial pre-orders, this second round of funding opens up the doors for faster delivery times and development of proprietary hardware on both 110nm and 28nm chipsets.
'Bitcoin is a triple entry bookkeeping system where a public ledger of every Bitcoin transaction is validated and distributed in real-time through the peer-to-peer Bitcoin network,' says Bitcoin.org. 'Bitcoin mining is the mechanism that keeps everyone in the system synchronized together. Bitcoin miners perform this labor because miners that solve a block earn (1) any transaction fees paid by customers for faster transaction processing and (2) newly created coins. '
With Bitcoin trading for over $100 per coin for most of the year, many miners have become instant millionaires. The gold rush is on for people wanting to buy a computer, plug it in, and make money 24 hours a day.
Avalon Clones is initially producing an ASIC line of products based 100% on Avalon purchased chips and Avalon's design. Avalon Clones expects to have much more reliable performance than the rest of its competition who were essentially funded through pre-orders and lacked significant in-house computer OEM manufacturing experience.
To learn more about Avalon Clones' world leading Bitcoin mining hardware or to pre-order your rig please visit us at http://avalonclones.com/