Butterfly Labs COO responds to detractors amid company struggles
Processor manufacturer Butterfly Labs (BFL) has recently been taking a bashing in the press and on the Bitcoin Forum due to delays in deliveries and the release of the its new 28nm processor, the Monarch. CoinDesk contacted Butterfly Labs' chief operating officer (COO), Josh Zerlan, to talk about the delays, the Monarch ASIC and Bitcoin Forum complaints. Butterfly Labs, one of the most prominent producers of bitcoin mining technology, currently ships hundreds of units of 65nm chips per day. However, the Kansas-based firm has recently struggled to keep up with demand as it is currently....
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Three weeks ago, the Federal Trade Commission shut down Butterfly Labs. Butterfly Labs is a company that sells Bitcoin mining hardware. It's been accused of scamming and lying to customers time and time again. Recently, the Federal Trade Commission (FTC) reported that Butterfly Labs was lying to customers in multiple ways, one being that they mined on their customers' hardware for extended periods of time before shipping it. This morning, Butterfly Labs tried to dismiss the FTC's complaint. Also read: FTC Shuts Down Butterfly Labs... Finally. The FTC claims that Butterfly Labs spent their....
Infamous Bitcoin mining company Butterfly Labs (BFL) has reopened and has an updated website following their tussle with the FTC. The FTC started investigating Butterfly Labs in late 2014 because "consumers who have purchased the machines or services cannot use them to generate Bitcoins because Defendants [Butterfly Labs] never provide them with the machines or services." BFL would regularly mine on customers' hardware for days before finally shipping it out. Also read: Judge Considers Allowing Bitcoin Mining Company Butterfly Labs (BFL) to Reopen. Butterfly Labs (BFL) Reopens. The....
Butterfly Labs was one of the very first mining firm is now in deep trouble as US Goverment is taking legal actions against them. Butterfly Labs was accused of fraud and misrepresentation. FTC documents say that the companies assets were frozen. The story began with really upset customers who failed to received their pre paid miners. Butterfly Labs has violated Section 5(a) of the FTC Act. BFL were basically engaging in “unfair or deceptive business practices in or affecting commerce”. We have contacted butterfly Labs to get some information regarding the shut down but they said
Embattled bitcoin mining manufacturer Butterfly Labs has announced that it will resume limited business operations following discussions with the Federal Trade Commission (FTC). The Missouri-based company will not be allowed to serve new consumers when it reopens, and will be restricted to fulfilling existing customer orders. Butterfly Labs further confirmed it will remain under the direction of a court-appointed receiver who will oversee the business. Butterfly Labs suggested that it aims to use this opportunity to rebuild its market perception, which it acknowledged has been impacted by....
Early in January 2015, CCN carried the decision of a Kansas judge who allowed Butterfly Labs to resume operations so that it could refund all its customers for not delivering their machines, or for delivering machines that had already been premined. It appears that Butterfly Labs' problems may not be over just yet. A series of posts (which can be seen here, here, here and here) on Craigslist would seem to indicate that Butterfly Labs is selling their assets in what appears to be a fire sale. There is a reason to believe that all of the items on the Craigslist posts come from the....