Butterfly Labs Announces Two Two Week Delays... Along With Free Upgrades, Full Refunds, And 0.45W/GH
In an email sent out today to former and current Butterfly Labs customers, BFL publicized their newest update on their Monarch line of 600 GH/s PCI-e 1x cards. Unlike their handling of their first batch of Bitcoin ASIC Miners, BFL has decided to couple this bad news with some good news. The two biggest announcements are drastically improved power consumption, and of course the two "two week delays." A few weeks ago, I wrote about CoinTerra's new GSX I PCI-e Bitcoin ASIC, claiming that it was CoinTerra's response to the BFL Monarch. Well, clearly Butterfly Labs has responded. The Bad News.....
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Butterfly Labs has resumed shipping its Monarch hardware and issuing bitcoin refunds to select customers. The embattled bitcoin mining company issued a statement earlier this week via its website and redesigned the platform to offer services to customers whose orders have not been fulfilled. The update follows Butterfly Labs' recent legal win against the US Federal Trade Commission (FTC) on 15th December when a US District Court rejected a request by the FTC for an injunction, asset freeze and appointment of a receiver. Following the ruling, BFL was free to resume business. However, the....
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
Bitcoin developer Luke Dashjr has confirmed that a prototypes Butterfly Labs ASIC is now hashing. The device is still far from full capacity, pushing out only 25 GH/s at a power consumption of 180 watts, but this is nevertheless the first definitive proof that Butterfly Labs is producing a legitimate product, and is not too far from finally releasing its first batch. Butterfly Labs' Josh Zerlan also recently provided updates on the state of Butterfly Labs' production in an IRC channel. The core of the conversation is this: BFL_Josh: Well guys, I had planned on updating everyone with a....
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....