CoinTerra acquires Bits of Proof and welcomes founder Tamas Blummer as Vice President of Enterprise Software.

AUSTIN, Texas, July 28, 2014 /PRNewswire-USNewswire/ -- CoinTerra, the market leader in Bitcoin mining solutions today announced the acquisition of Europe based Enterprise Bitcoin Software Company Bits of Proof™. 

Through the acquisition, Bits of Proof CEO Tamas Blummer joins CoinTerra as Vice President of Enterprise Software and CoinTerra gains access to Bits of Proof's assets including its modern and modular, enterprise ready implementation of the Bitcoin protocol that enabled BopShop – a merchant payment processor for both online and "brick and mortar" shops, BullionBitcoin – the first real-time auditable exchange for institutional investors, and the back-end for myTREZOR® – the first hardware Bitcoin wallet.

"By acquiring Bits of Proof CoinTerra gains enterprise software expertise and solutions that complement our expertise in hardware development and significantly strengthen our offering." said Ravi Iyengar - CEO, CoinTerra. "The software solutions developed by Bits of Proof and the expertise of Tamas Blummer represent an important piece of the enterprise mining puzzle that will allow us to grow our operations quickly and security at peak efficiency."

"With CoinTerra, the Bits of Proof software stack is sure to become the industry standard software stack for Bitcoin in enterprises" said Tamas Blummer, VP of Enterprise Software - CoinTerra, Inc.

CoinTerra provides large scale Bitcoin mining hash power through its multiple state-of-the-art datacenters installations employing the highly scalable TruePeta™ deployment architecture.

The TruePeta™ architecture employs CoinTerra's proven GoldStrike™ I ASIC and TerraMiner™ platform together with an enterprise implementation of Bits of Proof's modern and modular implementation of the Bitcoin protocol to allow for unrivaled reliability, performance and scalability for large scale Bitcoin mining operations.

Visit CoinTerra on the web:    https://cointerra.com 
Follow CoinTerra on Twitter: https://twitter.com/cointerra

About CoinTerra™

Founded in Austin, Texas in mid-2013, CoinTerra is currently one of the fastest-growing technology startups in the world. CoinTerra designs, produces, and operates systems that power the Bitcoin blockchain network.

Our state-of-the-art design methodologies and advanced architectures enable the delivery of enterprise level Bitcoin mining solutions with the highest performance and lowest total cost of ownership available on the market today.

CoinTerra boasts a highly experienced engineering team of semiconductor architects and designers who have previously designed some of the world's highest performance CPUs, GPUs, SOCs and chipsets for Apple®, Intel®, Nvidia®, Qualcomm® and Samsung®.

© 2014 CoinTerra, Inc. All rights reserved. CoinTerra, the CoinTerra logo, TerraMiner, TruePeta and Bits of Proof are trademarks of CoinTerra, Inc. in the U.S. and other countries. Other trademarks belong to their respective owners. Features, pricing, availability and specifications are subject to change without notice.

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SOURCE CoinTerra