KnCMiner Ditches Customers in Favor of Mining Bitcoin and Litecoin for Themselves
KnCMiner is going to stop selling miners to "unhappy customers" and will instead focus on mining themselves. Hot on the heels of Magnus Daar Esq. of Nova, a law firm based in Sweden, stating that KnC's actions might hurt Sweden's reputation for other Swedish companies, KnC's co-founder Sam Cole has admitted to closed and less-than-honest business dealings with former KnC customers. Here is his quote from his interview with Niclas Rolander of Bloomberg: "When we don't have these customers buy our hardware it becomes a different business model. It becomes much easier, much more open, much....
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Earlier today, KnCMiner updated their website to reveal a Litecoin Mining Hardware tab, right next to their Bitcoin Mining Hardware tab. Under the new tab, KnCMiner reveals information on their newest ASIC miner: The Titan. The Titan is a 100 MH/s Scrypt ASIC that is designed to be used on the Litecoin network. Of course, there are hundreds of other Scrypt-based altcoins that are clones of Litecoin with slightly modded parameters. The Titan can be used to mine on any of those altcoins as well. The Titan costs $9,995 to preorder and shipment is slated for Q2/Q3 of 2014. KnCMiner has also....
HashFast, a mining company which once boasted that its hardware is "... the fastest Bitcoin Mining ASIC in the world. Period," was granted permission last Wednesday to liquidate its remaining assets. Officially, HashFast is bankrupt and owes investors from around the world a sum close to $40M. The ruling could be one of the most sardonic "wins" for a bitcoin company in court thus far. In the months leading up to the California judge's ruling, HashFast was beset by a number of legal accusations. The list includes breach of contract, fraud, and an involuntary bankruptcy petition. For....
KnCMiner Can't Compete in hardware sales, but they might be making it up to their customers now. KnCMiner has been unable to produce quickly and ship mining equipment for some time now. After it's lengthy eight-month wait for Neptune miners, they've decided to do the right thing and stop selling mining equipment to independent miners. KnCMiner will now be selling cloud mining instead. There are reports from KnC customers that Titan order refunds are being processed, according to GAW CEO on HashTalk. That is sure to make lots of KnCMiner Customers happy if true. If KncMiner continues on....
J-J's broken KnCMiner Super Jupiter. KnCMiner has started shipping a 3 TH/s Bitcoin mining box, the largest single Bitcoin ASIC miner in existence at the moment. The unfortunate part, though, is that none of these KnCMiner Super Jupiters arrived at their destination in one piece. KnCMiner has responded promptly on their forum, promising to ship new, properly constructed, units to affected customers, free of charge. KnCMiner also emphasized that customers needing to RMA their Super Jupiter would not have to pay return shipping on the existing $10,000 “machine” that was shipped to them; they....
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....