Avalon ASIC Announces to Refund $2.9M in Bitcoins to ASIC Miner Customers

By Forexminute - Deepak Tiwari | Bitcoin |

Avalon ASIC Announces to Refund $2.9M in Bitcoins to ASIC Miner Customers

In an official release Avalon ASIC, a project that produces creative hardware, has announced that it will be refunding $2.9M in Bitcoins to ASIC miner customers. The company admitted that it is now accepting refunds from any and all order dates due to delays. The release claims that the company is now offering full refunds in Bitcoin for all the Avalon Generation One orders made on any date.

The company also advises its customers to request refunds due to the delay and raise of Bitcoin difficulty and to facilitate refund the official store of the company has an updated refund form which can be filled. According to estimates, refunds are targeted at 800,000 Avalon ASIC chips which were waiting to be delivered.

Original Order Email and Phone Number Required

However, to rule out phishing attempts and spam, any refund request not made containing the original order email and phone number will be automatically rejected by the system. Therefore, the company requests from the customers to fill the form with the required relevant information to avoid any disappointment.

Regarding ‘Avalon Generation Two Chips 55nm’ the company release says that those who have invested in time and money on Avalon Generation One based devices and clones will not be disappointed as the company has made Avalon Generation Two chips completely backward compatible in every way with 110nm generation one chips.

However, ‘Avalon Generation Two Chips 55nm’ will not be available till late October 2013 for immediate shipping. The company also rules out for any kind of pre-ordering for now and requests developers and hobbyists to keep a close eye on its github account as it will be releasing the 55nm chip specification and reference design soon.

Earlier, in another release on 08/31/2013, the company has admitted that due to events outside of its control, the delivery of chips was delayed and for that the company decided to revert its policy on no refunds and offered the option for customers to request a full refund (in Bitcoin) if so desired. The company had also clarified that all refund applications must be made earlier than June 1st.

In the same release, the company had claimed that the delivery of a batch of 400,000+ chips was due later that week and it would be able to meet the upcoming deadlines of chip deliveries for orders made in June and later.

To contact the reporter of this story: Deepak Tiwari at 

About: Forexminute - Deepak Tiwari

Deepak Tiwari, a law graduate, has been working as a journalist for six years now. He currently writes on Bitcoin, economic, and Forex related news at ForexMinute, the brand new financial news portal ...

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