TerraHash shuts down, bitcoin miners upset with 50% refund
ASIC bitcoin miner manufacturer TerraHash has told customers that it has gone out of business. The company is now facing legal action from at least two customers, CoinDesk has learned. The California-registered corporation announced on the Bitcointalk forum that several problems had caused it to cease trading. "The failure of the Klondike project was one. Chase, our bank, shut down our accounts. Also the delay in the shipment of the chips has resulted in a lot of customers asking for [a] refund," said someone using the TerraHash account in the official TerraHash forum. "We already owe a....
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Terrahash, one of several ASIC mining rig builders, has changed its refund policy. The company's FAQ has recently been updated to say that all orders are final. It does, however, say that customers can request a refund prior to shipping, and such requests will be considered on a case-by-case basis. Terrahash is selling mining rigs based on Avalon ASICs, which puts it at the mercy of the Avalon supply chain. Unfortunately, claims were made against Avalon that it was mining with customer ASICs. Terrahash has already changed its shipping policy. The company originally announced its DX Large....
TerraHash, the Californian company which has been promising Avalon-based ASIC miners, has started taking preorders on its website - but has also lost over $100,000 worth of business due to late delivery. The company, which announced its entry into the ASIC mining market just over a month ago, is promising a device it is calling the DX Large. It will use boards designed to contain ASIC chips manufactured by BitSynCom, which has announced that it will sell those chips independently to manufacturers. TerraHash had previously said that it wouldn't take payment for products until they were....
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
Customers of Bitmine AG have been requesting a considerable number of refunds from them, and claim that it's taking too long to receive their money back. How long is too long to wait for a refund when a company is overloaded with requests? Third-party websites like BitmineRefund.com claim to list late customer refund requests, but looks may be deceiving! Not all customers who receive their refund are jumping to let the site know that they have received it. Bitmine AG Exclusive Interview. I conducted an interview with Kerim Chikhi, who is a representative of Bitmine AG. What are the delays....
Another ASIC mining firm has entered the fray, this time using chips from a third party provider. Californian firm TerraHash is promising customers huge mining rigs using Avalon ASIC chips from designer BitSuncom. The company will use ASIC boards from BKKCoin, a Thailand-based electrical engineer who has been creating a specification for a circuit board containing 16 Avalon chips. “The boards for which we provide the Avalon ASICs, will start shipping in about 2 months,” said Terrahash in its FAQ. “We have already ordered 20,000 Avalon chips, and will order more in the coming days. As soon....