Bitcoin Boomtown: Digital Currency Tops $400, Mining Rigs Sell for $3M

“Several companies now offer mining services in the cloud, and many others are selling specialized bitcoin mining rigs, hardware that generates bitcoins by helping to drive the distributed software system that oversees the digital currency. One company, KnCMiner, says it took in $3 million in mining rig orders in just four days last week. Three young entrepreneurs in Vancouver fired up an ATM that trades cash for bitcoins and vice versa. They say they did $100,000 in exchanges on their first day. It’s the kind of gold rush speculation that counld inspire a penny stock mining company like Alix Resources to start its own exchange. But it’s also an area that poses serious risks for investors.”

http://www.wired.com/wiredenterprise/2013/11/400-bitcoins/

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