Bitcoin Mining Hardware Maker AMT Facing Court Over Delays
Mining hardware manufacturer Advanced Mining Technology, Inc. (AMT) is the latest to face a class-action lawsuit from customers alleging products were not delivered on time, according to a report in the Delaware County Daily Times. There are concerns lawsuits could soon become more common in this field, in which small startup companies race to design and build cutting-edge and specialist hardware, dealing with processes that can challenge even large chip manufacturers. Just over a week ago, a Texas judge granted a court order to 'freeze' the bitcoin wallets of another ASIC mining....
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Today we have Bitcoin Cloud Services, yet another cloud mining service. Let’s see what they have to bring to the table. I started mining back in 2011, but eventually due to the competitive nature of the Bitcoin network it got more difficult to get early access to hardware. With hardware delays from most of the manufacturers it became almost impossible to the average user to get involved in mining. In early 2014 we decided to offer our mining services to the average user so they wouldn’t have the common problems of setting up their own mining rigs. We have access to custom made efficient....
Comments from CoinTerra CEO Ravi Iyengar have been added. A class action lawsuit filed against bitcoin mining hardware manufacturer CoinTerra may end with an out-of-court settlement, as both sides in the case have indicated interest in resolving the case before it moves to court. Ars Technica reported that CoinTerra sought permission from a US judge in a Northern California district court last week to give it more time to arrange mediation talks. The suit was originally launched in April by Lautaro Cline, a customer from Oakland, California who said he received low-quality mining equipment....
A legal effort to sue bitcoin mining firm KnCMiner over product refunds has been dealt a blow in Sweden, court documents reveal. The suit traces back to public furor related to the Titan, a mining product developed and released by KnCMiner in 2014 that was designed to confirm transactions for non-bitcoin cryptocurrencies like litecoin, a process known as mining. Anger among the firm’s customer base over delayed shipments and hardware problems sparked controversy and the rumblings of legal action. The situation led to accusations of fraud and misrepresentation, allegations of which formed....
A major Russian mining firm is facing legal troubles in St. Petersburg, as three individuals are accusing the company of fraud. Cryptouniverse will now face a trial after a city court issued a criminal case order during the week. A District Court Rejected to Launch a Criminal Case Against the Firm in 2020 According to RBC, the St. Petersburg City Court accepted the appeal of three customers of Cryptouniverse — a bitcoin (BTC) and litecoin (LTC) miner founded in 2018 — and considered the case should go before a trial. At first, the legal case against the firm made the headlines....
Mining hardware maker Butterfly Labs has been shut down by the US Federal Trade Commission (FTC), which accused the embattled company of fraud and public misrepresentation. On 18th September, the agency was granted permission by the US District Court for the Western District of Missouri to freeze Butterfly Labs' assets and close the company pending trial, according to documents released by the FTC. The move comes months after customers began sending complaints to the federal agency, a process that produced nearly 300 filings accusing the company of delaying shipments and refund payments.....