CoinSeed Announces $5m Investment in BitFury Mining Gear

Las Vegas-based bitcoin investment fund CoinSeed announced a substantial investment of $5m in mining hardware on 23rd January.

CoinSeed revealed that it has acquired $5m worth of BitFury’s 55 nanometre bitcoin hardware, but that this is just its first step in its larger vision to become a large-scale bitcoin clearing house, one that will be able to someday process the real-time transactions it says bitcoin will need to truly compete in payments.

The announcement might not sit well with some members of the bitcoin community, especially among miners and those who frown upon centralisation.

CoinSeed’s Merlin Kauffman, however, suggested such sentiments risk holding the wider bitcoin community back at a time when companies like his own are seeking to improve and scale the currency’s infrastructure.