CoinTerra Takes Aim At Butterfly Labs With GSX I: A 400 GH/s PCI-E Bitcoin Mining Card
Having more or less completing development on their large Terraminer unit capable of 2 TH/s for a sum of $5,999, CoinTerra recently announced their GSX I Bitcoin mining solution. CoinTerra is currently accepting preorders on the GSX I only, with expected delivery to be in June of 2014. CoinTerra's CEO Ravi Iyengar had this to say: "Having delivered the TerraMiner, the most powerful Bitcoin miner ever released, we decided to turn our attention to designing an affordable solution for the folks who kick-started the mining revolution - enthusiasts and hobbyists looking for an affordable path....
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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
BitPay has processed its largest ever single transaction - $1m for bitcoin mining hardware manufacturer Butterfly Labs. This means that, at the current price of $192 per bitcoin, Butterfly Labs received an order for around 5,208 BTC-worth of mining equipment. BitPay then processed this order, depositing the equivalent in fiat currency in Butterfly Labs' bank account. Despite the size of the order, the cryptocurrency payment processor processed it in their usual one-business-day timeframe. Tony Gallippi, co-founder and CEO of BitPay, said: "The speed, reliability, and certainty of payments....
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....
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....
Article updated on 27th August at 14:37 BST. Butterfly Labs has announced a new PCI bitcoin mining card, named Monarch, based on the new 28nm technology. Butterfly Labs claims the Monarch will achieve 600 GH/s and consume 350W. The release has courted controversy with customers who are still awaiting delivery of their longstanding 65nm-based products. The Monarch has been optimised to work when connected to a PCIe slot, however, it also has a USB port, which allows it to be used with Windows and Linux computers and even Android devices. Butterfly Labs boasts that the card will achieve 600....