Butterfly Labs Monarch miner announcement angers customers

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Butterfly Labs Monarch miner announcement angers customers
Butterfly Labs has announced a new PCI bitcoin mining card, named Monarch, based on the new 28nm technology. Butterfly Labs claims the Monarch will achieve 600 GH/s and consume 350W. The release has courted controversy with customers who are …
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We've got a Butterfly Labs Bitcoin miner, and it's pretty darn fast

We've got a Butterfly Labs Bitcoin miner, and it's pretty darn fast
Apparently, I'm a Bitcoin miner now, and it looks like I'm actually pretty good at it. Ars is currently in possession of one of the elusive but very real Butterfly Labs Bitcoin Miners. It's a tiny little black box that fits in the palm of my hand, and …
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BitPay processes Million bitcoin order for Butterfly Labs
BitPay has processed its largest ever single transaction – $ 1m for bitcoin mining hardware manufacturer Butterfly Labs. This means that, at the current price of $ 192 per bitcoin, Butterfly Labs received an order for around 5,208 BTC-worth of mining …
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Inside Butterfly Labs: The ASIC bitcoin mining arms race

Inside Butterfly Labs: The ASIC bitcoin mining arms race
CoinDesk's Daniel Cawrey recently visited and toured the facilities at Butterfly Labs, one of the most prominent and written about producers of bitcoin mining technology. In this second part of this series, he reports on the factors involved in the …
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New lawsuit against Bitcoin miner manufacturer alleges fraud, negligence
One of the world's most mysterious Bitcoin-related companies is now facing its first civil lawsuit in a United States federal court, with many more likely on the way. Last summer, Ars reported on Butterfly Labs (BFL), which makes ASIC-based Bitcoin miners.
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Tired Of Being the Butt of Jokes, Butterfly Labs Buys Critical Website

Tired Of Being the Butt of Jokes, Butterfly Labs Buys Critical Website
One of Buttcoin.org's articles, previously titled “The $ 22,480 Butterfly Labs Bitcoin Mining Rig is a Huge, Broken, Unstable Piece of Shit” is now titled “The $ 22,480 Butterfly Labs Bitcoin Mining Rig is a Sexy Bitcoin Mining Machine” which, in …
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Bitcoin's Most Controversial Startup
UPDATE 9/23: The United States Marshals Service has raided Butterfly Labs's headquarters and frozen the company's funds. No arrests were made. The Federal Trade Commission also announced that it has filed a civil lawsuit against Butterfly Labs.
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BitBeat: For Bitcoin, Good (PayPal) and Bad (Butterfly Labs) in One Day

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BitBeat: For Bitcoin, Good (PayPal) and Bad (Butterfly Labs) in One Day
In the wake of the forced shut-down of Butterfly Labs by the FTC, we were reminded of this chart that was sent to us by Steve Hanke, a professor of economics at Johns Hopkins. Professor Hanke constructed a number of charts around bitcoin (which you can …
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Digging for answers: The “strong smell” of fraud from one Bitcoin miner maker
In fact, it's getting worse after it came to light that Butterfly Labs' largest shareholder—a man who is a company co-founder, current "Innovation Officer," and member of the board of directors—pled guilty in 2010 to one count of mail fraud (PDF) for …
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Butterfly Labs Announces 28nm ASIC Bitcoin Mining Processor

Overland Park, KS (PRWEB) August 21, 2013

Butterfly Labs (BF Labs Inc.), the Kansas based leader in Bitcoin mining technology has announced its 2nd generation ASIC Bitcoin processor – the 4th bitcoin processor in its history. The new chip has been in quiet development for the last six months.

As the first company to introduce a 2nd generation ASIC chip, Butterfly Labs has leveraged its proven design to set an all new high mark in performance for the Bitcoin mining industry.

“We’ve learned a great deal with our first ASIC. After an initial delay, that processor has been shipping in volume for the past few months and is now powering the majority of the Bitcoin network. For this 28nm version, we were able to use our test bench data to make major optimizations in both speed and efficiency that would otherwise not be possible with a first generation design.” remarked Butterfly Lab’s chief ASIC engineer John Cheng. “Our deep involvement with the engineering team from Global Foundries has further allowed us to maximize our design for their advanced 28 nanometer process.”

The first product using the new technology was also announced today. The ‘Monarch’ is a PCIe card optimized for large scale mining in data centers. Each device will process 600 GH/s @ 350 w of power consumption. The product is being offered at $ 4,680 US Dollars. This would make it the most powerful & cost effective bitcoin mining card offered by any company in the industry. Initial deliveries of the Monarch are slated to begin in December 2013.

The company is allowing existing customers to transfer any still undelivered back orders to the new higher speed technology, but they note that it would increase the wait time by several months and don’t recommend it.

According to Jeff Ownby, Butterfly Labs VP of Marketing, “If employed today, each device would mine approximately 6 bitcoins every 24 hours. At the time of this writing, that’s over $ 600 per day. However, it’s important to point out that mining difficulty & bitcoin prices change with great volatility. We can only guarantee the performance specifications of our hardware, not the market value of mining with it.”

Butterfly Labs will immediately accept placement in the queue through pre-orders.

To learn more about Butterfly Labs products, visit http://www.butterflylabs.com







Butterfly Labs Asset Seizure Spurs On Mining Industry Competition

Butterfly Labs Asset Seizure Spurs On Mining Industry Competition
Amid the FTC injunction of Butterfly Labs additional insight was gleaned about the operations of the company. Butterfly Labs (BFL) sells high-performance computers that are designed solely for mining Bitcoin. BFL operated primarily on a pre-order basis …
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Spencer Fane's final Butterfly Labs bill will remain under seal
A federal judge has ordered that the costs associated with sending Butterfly Labs into receivership should remain under seal. Spencer Fane Britt & Browne LLP was named temporary receiver for Butterfly after the FTC filed suit against the company in …
Read more on Kansas City Business Journal

Butterfly Labs Seeks Government Approval to Reopen Business

Butterfly Labs Seeks Government Approval to Reopen Business
Attorneys for the Federal Trade Commission (FTC) and Butterfly Labs are allegedly holding talks that could lead to a possible reopening of the troubled bitcoin mining business. The conversation, while still in its early stages, may allow Butterfly Labs …
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FTC suit against Butterfly Labs survives dismissal
Butterfly Labs. Based in Leawood, Butterfly Labs builds Bitcoin mining hardware to perform complex, energy-demanding calculations that lead the to creation of Bitcoin. Brianne Pfannenstiel: Reporter- Kansas City Business Journal: Email | Twitter …
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