Although life wasn’t perfectly beautiful for TerraHash, only a few saw it coming when the company – that produces ASIC Bitcoin mining gear – announced it was shutting down its doors to business in September. The downfall was caused by different events, like the failure of the Klondike project and the closure of the company’s bank account. However, one of the main reasons was the amount of displeased clients asking for refunds: “the delay in the shipment of the chips [from Avalon] has resulted in a lot of customers asking for refund. 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”, TerraHash announced.
Well, with the demise of the firm, nothing got easier, especially for the customers, who now have to deal with incomplete refunds. When TerraHash, based in Silicon Valley, announced it was going to refund only about 50 percent of every order, there were immediately strong reactions from the Bitcoin community. Without any surprises, there was a general feeling of disappointment towards the company: there are no certainties of how much money will the customers get or even when they will get it.
Luckily, in the meantime, the cryptocurrency universe kept its strength steadfast and we can surely thank to all the other ASIC Bitcoin mining gear producers that are still out there doing their job. Names like ASICMiner, KnCMiner and CoinTerra are making it work and providing the promised technology to the customers. KnCMiner, for instance, is currently delivering its powerful Jupiter rig and it’s only a matter of time until new equipment batches from other companies start arriving at the clients’ houses. These were some of the names that were left strong(er) in the ecosystem after TerraHash’s downfall, but there are more that you can get to know better with the help of our infographic.
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