After facing a lot of condemnation not just from its customers but also from the US District Court for the Western District of Missouri and injunction, Butterfly Labs is all prepared to start shipping the Bitcoin mining machines to customers. This time the company has also promised to offer refunds to some select customers.
There were some speculations; however, in an announcement released on the official website, Butterfly says, “On December 12, 2014, the United States District Court for the Western District of Missouri rejected the Federal Trade Commission’s (FTC) arguments for a preliminary injunction against Butterfly Labs.”
The post further says, “On December 23rd the Court directed the orderly wind-down of the Temporary Receivership that had been in place since September 19th at the request of the FTC, and handed control of the company and all assets back to Butterfly Labs upon completion of the wind-down.”
The Bitcoin mining machine developer says that it remains as committed as ever to serving its customers to the best of its capabilities going forward. However, after more than three months of closure or severely limited operations the company needs to assess the status of all aspects of its business and determine the damage caused.
Asks Customers to be Patient
The company says that it asks that customers please be patient as it is restarting full operations and trying to mitigate the impact of the shutdown. Nonetheless, the decision to resume shipping its Monarch hardware and issuing Bitcoin refunds to select customers has given hope to a lot of existing and potential customers.
Talking to media professionals Butterfly Labs vice president Jeff Ownby explained his company’s view on the developing situation and said that on 23rd December, the Court handed control of the company and assets back to Butterfly Labs. He informs that Monarch shipments resumed on 29th December and bank and Bitcoin accounts were returned to them on December 30th.
According to Jeff Ownby, the payment of refunds in Bitcoin resumed on December 31 and the activation of cloud mining services also started on this day. Though the company admits that its operations are still “severely limited”, it says that it will assess all aspects of its business and determine the damage caused by the temporary shutdown last year.
To contact the reporter of this story: Deepak Tiwari at email@example.com