Mining Roundup: Pen-and-Paper Mining, ROI Uncertainty and the Latest on Butterfly Labs

Between predictions of a difficulty drop and the recent legal maelstrom surrounding Butterfly Labs, you might think that it was all bad news in the mining community. However, those who have been active in this market segment for long enough know it would take more these events to stop miners from hashing.
Read on to learn more about some of the latest happenings in the bitcoin mining world.
FTC pleased with Butterfly Labs reopening The US Federal Trade Commission (FTC) has agreed to allow troubled bitcoin mining hardware company Butterfly Labs to reopen for business, albeit in a limited capacity. The decision will enable shipments to resume and, according to the FTC, set the stage for long-term action against the Missouri-based company.
CoinDesk spoke to FTC lawyer Leah Frazier, who confirmed that a court-appointed receiver remains in control of the company. Further, she explained that Butterfly Labs will take no new orders, and will instead process existing shipment requests.
Frazier told CoinDesk:
‘During this time, the company can’t take anymore orders and they are barred from making false representations. Really, they can’t do anything without the receiver. So, from our perspective, we’re very pleased with the outcome.’


This post was published at Coin Desk on October 7, 2014.

Comments are closed.