Bitmine goes bankrupt

Dubious business with Bitcoin computers headlined a news magazine already in March 2014 on the Ticino company Bitmine. Now Bitmine is broke and has filed for bankruptcy, as the company wrote in an open letter on his website.

Bitmine sold special computers that are used for mining of the crypto currency Bitcoin. Bitmine presented in Ticino manufactures such equipment and sold them – against pre-payment – for 6,000 francs apiece. At the height of Bitcoin hype early 2014 a seemingly profitable business: Bitmine sold claims to computer for around 12 million Swiss francs.

However, many customers complained in online forums about it soon, that paid computer had never been supplied by Bitmine. They had partially bought for tens of thousands of franc. Some of those who actually received the ordered computer but complained about faulty and less powerful units, as originally promised by Bitmine.

When asked about the allegations said Bitmine CEO Giorgio Massarotto in March 2014: “We had problems with our sub-firms in China and Italy. But now we have seen three weeks ago on track to produce 200 units a week and are confident that we have caught up with the delays soon. “Bitmine wanted also to all those who have

Read more ... source: TheBitcoinNews