Bitcoin Mining Technology Provider Butterfly Labs Ships 45,000 Orders, Completes Pre-Order Backlog of 65nm Product Line

OVERLAND PARK, Kan., Jan. 13, 2014 /PRNewswire/ -- Butterfly Labs (BF Labs Inc.), the Kansas-based leader in Bitcoin mining technology has announced the mid-December 2013 completion of nearly 45,000 ASIC product order shipments - eliminating what had been a multi-month backlog. Butterfly's 65nm product line is now available on their website for immediate sale and delivery.

(Photo: http://photos.prnewswire.com/prnh/20140113/PH44441-a )

As the first company to introduce a second generation ASIC chip, Butterfly Labs has shipped more full-size Bitcoin mining hardware than all other manufacturers combined.

"Almost half of the Bitcoin network hashing power is now run on Butterfly Labs' products," remarked VP of Marketing Jeff Ownby. "While we regret that the backlog ever existed, the overwhelming acceptance of our products by the marketplace outpaced our ability to deliver in a timelier manner.  The process of correcting that has been challenging, and we want to sincerely thank all the customers who stood by us during the delay.  We hope they have immense success in mining with their newly delivered Butterfly Miners."

Completing the 65nm backlog will allow Butterfly Labs faster development and shipping of the coming 28nm line of products.

According to Marc Goodpasture, Butterfly Labs Head of Operations, "The systems we have put in place will allow us to source, manufacture and deliver future products in a fraction of the time it took us previously.  I have never worked with a team more dedicated to the production of quality, leading-edge products in my entire career."

Butterfly Labs is currently taking pre-orders for its 600 GH/s Bitcoin mining card, as well as a hosted, Bitcoin mining product. Both are expected to begin delivery in March 2014.

(Photo:  http://photos.prnewswire.com/prnh/20140113/PH44441-b )

Butterfly Labs (BF Labs, Inc) is a Kansas-based manufacturer of hardware used for securing online transactions in the Bitcoin and other networks. For more information about Butterfly Labs, visit:  www.butterflylabs.com

Contact

Jeff Ownby
VP Marketing and Ecommerce
Email
708-601-4170

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SOURCE Butterfly Labs



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