Better Business Bureau Issues Warning Against Austin-Based CoinTerra
Warnings in the bitcoin community. They usually come from some sort of central banking entity. Not this time. The Better Business Bureau (BBB) - a not-for-profit organization that focuses on business trust (and is not affiliated with the government) - has issued a warning against Austin, Texas-based CoinTerra, a crypto-currency mining hardware manufacturer. According to the report: Consumers who complained to BBB say they spent over $6,000 per unit for the devices. Many consumers sought refunds when the company stated in February that the machines they pre-ordered late last year would not....
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Bitcoin mining hardware producer CoinTerra has moved to reassure customers after it emerged a number of complaints about the company have been lodged with the Better Business Bureau (BBB). Some 11 complaints relating to CoinTerra have been closed with the BBB in the last 12 months. Two of these related to advertising and sales issues, one related to guarantee and warranty issues and eight related to problems with the company's products or service. The BBB is a private entity, not a government agency, which aims to improve trust between consumers and businesses. Complaints are closed when....
Following a lengthy silence in the media, CoinTerra CEO Ravi Iyengar has emerged on the offensive, seeking to clarify the current state of his bitcoin mining firm, one that has recently been rocked by questions about its solvency. Speaking to CoinDesk as part of a new interview, Iyengar confirmed that the Austin-based bitcoin mining company is in default, and it is currently awaiting a decision from its secured note holders. CoinTerra is in default on roughly $4.25m-worth of secured notes, according to Iyengar. The admission comes days after the firm became the target of a lawsuit filed by....
Succeeding in the cryptocurrency mining industry over the long term may require thinking outside of the box. It takes creativity to rise above the rest and survive in such a fast-moving industry. New ideas such as permacoin, which uses proof of work to store archival data, could be an example of this. The recent Chapter 11 bankruptcy filing from San Francisco-based hardware designer HashFast is also significant. It's clear that major investment like the BitFury funding round or key partnerships like the creation of PeerNova are needed in order to ensure viability. With that said, let's....
The mining company, CoinTerra, announced a reduced pricing opportunity for their second batch of specialized ASIC mining equipment. CoinTerra will price the new TerraMiner II at $3499 and the TerraMiner IV set to be released in January 2014 at $5999. The TerraMiner II will serve as an entry-level Bitcoin mining solution. The TerraMinter IV serves as the first miner to break the $3 per Gigahash Barrier. CoinTerra issued the following release: CoinTerra Introduces Two Low-Cost Bitcoin ASIC Mining Solutions. New TerraMiner II for $3499 and Reduced Price of $5999 for TerraMiner IV in January....
Bitcoin mining ASIC processor and systems manufacturer CoinTerra has announced it will offer hosted mining contracts. The Austin-based company says customers can now purchase plans ranging from 200 gigahashes (GH/s) to more than 1 petahash (PH/s) with immediate deployment. CoinTerra framed the move as an extension of its mission to bring bitcoin mining to more consumers around the globe. Ravi Iyengar, CoinTerra's CEO, explained: "Many prospective bitcoin miners don't have the space or power requirements to operate their own bitcoin mining hardware, especially at scale. In addition, some....