27 Sep '13, 2pm

TerraHash shuts down, bitcoin miners upset with 50% refund

TerraHash shuts down, bitcoin miners upset with 50% refund

ASIC bitcoin miner manufacturer TerraHash has told customers that it has gone out of business. The company is now facing legal action from at least two customers, CoinDesk has learned. The California-registered corporation announced on the Bitcointalk forum that several problems had caused it to cease trading. “The failure of the Klondike project was one. Chase, our bank, shut down our accounts. Also the delay in the shipment of the chips has resulted in a lot of customers asking for [a] refund,” said someone using the TerraHash account in the official TerraHash forum. “We already owe a lot of money to PayPal, and with all the refund requests, it is impossible for us to continue our operation profitably. So we have decided to dissolve the company.” The company was one of several that was awaiting processor shipments from BitSynCom, which has repeatedly delayed shipments of...

Full article: http://www.coindesk.com/terrahash-shuts-down-bitcoin-mine...

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