CoinTerra Silent Amid Alleged Cloud Mining Payout Freeze
Bitcoin mining hardware firm CoinTerra has been the subject of speculation this week, as emails purportedly sent by the company to customers of its cloud mining service suggest the firm has defaulted on debt obligations. The email, signed by a representative of the CoinTerra support staff, claims that the firm is no longer capable of making payouts to customers. The message reads: "The company has defaulted on its secured notes. The note holders have senior, secured and, we believe, perfected liens on all of CoinTerra's assets, including servers. We have proposed a plan to the note....
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CoinTerra's Ravi Iyengar. CoinTerra today announced the immediate deployment of their state-of-the-art tier-3 compliant datacenter. From this data center, CoinTerra plans to offer Bitcoin mining contracts to individuals around the world whom are unable to mine in their own homes due to constraints with mining hardware imports, high electricity costs, or nagging wives. They are offering contracts as small as 12 months at 200 GH/s for $999 all the way up to 24 months at 1 PH/s. According to Dr. Timo Hanke, CTO of CoinTerra, Inc., CoinTerra has a distinct advantage over its competitors:....
Austin, Texas-based CoinTerra has announced on Monday mining contracts, in a move that will see the popular mining hardware producer enter the cloud mining realm. The company, who says they've delivered over 10 petahash of bitcoin mining hardware to customers (which powers 15 percent of the bitcoin network), announced plans ranging from 200 GH/s to above 1 PH/s. The company says they're able to offer these plans below industry averages. "Many prospective Bitcoin miners don't have the space or power requirements to operate their own Bitcoin mining hardware, especially at scale. In addition,....
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....
Cointerra’s last big action was the acquisition of the Hungarian bitcoin software company Bits of Proof . With this move they are trying to strengthen their back end support for their cloud hashing services. CoinTerra provides large scale Bitcoin mining hash power through its multiple state-of-the-art datacenters installations employing the highly scalable TruePeta™ deployment architecture. However this is not why we write about this company today. I had a chance to meet Cointerra CEO Ravi Iynegar and Dr. Timo Hanke CTO at the 40%4 Bitcoin conference in Amsterdam and they were kind enough....
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....