Ravi Iyengar Launches Bitcoin ASIC Arena, Starts CoinTerra

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Ravi Iyengar Launches Bitcoin ASIC Arena, Starts CoinTerra
Ravi Iyengar Launches Bitcoin ASIC Arena, Starts CoinTerra

Ravi Iyengar Launches Bitcoin ASIC Arena, Starts CoinTerra

A new entrant in the Bitcoin ASIC market is CoinTerra. Headed up by Ravi Iyengar, former CPU Lead Architect at Samsung’s Austin Research Center (SARC), he has more than 15 years of experience working for companies like Intel, NVIDIA, Qualcomm and Samsung. According to Bitcoin observers the new measure on the part of Ravi Iyengar will auger well for the virtual currency.

From Ravi Iyengar’s earlier profiles wherein he worked at SARC and focused on the CPU Mid-Core e.g. integer execution and special purpose registers, Bitcoin will definitely get an experienced hand. His earlier stints where he designed chips for the SGS4 and similar jobs for Intel, Qualcomm and NVIDIA are expected to help CoinTerra carve a place in the fast emerging market.

Talking about his work experience and decision to launch CoinTerra, Ravi Ayengar said that his career was stable and was earning good money; however, he always had that entrepreneurial spirit, and wanted to do something big that changes the landscape of an industry and starting CoinTerra was the opportunity that he was waiting for.

Huge Potential in Bitcoin

Ravi Iyengar also feels that there is a huge potential in terms of CoinTerra’s impact on Bitcoin, a new yet competitive market. He admits that Bitcoin is very exciting and intense, and there is a huge scope for CoinTerra if it can manage the top slot in ASIC. According to him, his experience and background in a similar industry i.e. chip ‘arms races’ will help him in the Bitcoin market.

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2000 Gigahashes Per Second Bitcoin Miner

Ravi Iyengar’s company will be launching a 2000 Gigahashes per second Bitcoin miner (or 2 TH/s). It will be powered by four 28nm ASICs running at 500 GH/s each. Housed in a 2U air-cooled container, it will draw up to 1200W (estimated) for 0.6 W/GH/s.

Answering the question whether CoinTerra will be able to meet the timeframe it has given to customers, Ravi said that due to the level of engagement with his partners, he is confident that December is the due date. He also admitted that even large companies like Intel cannot claim a 100% release date but his company is on track.

Jim O’Connor, VP of Engineering with a history of SOC design and Dr. Naveed Sherwani, CEO of Open Silicon too are joining CoinTerra. The company so far has raised $1.5 million from investors which it will use to fund development costs and an initial production run.

To contact the reporter of this story: Jonathan Millet at john@forexminute.com