A lot of people there think 130nm is out of date and obsolite, though. They don't realize that what matters is $/W and a cheaper to tape out chip wins in the short run, and over time Labcoin will have time to reduce feature size.
+1. This certainly worked for AsicMiner and they started out with an even smaller amount of seed funds. At some point all mining operations will need to get more cost efficient and they'll need to be creative for sourcing electricity but that doesn't mean that an initial rush to 28nm is the right answer.