Butterfly Labs News

Butterfly Labs is a company that produces platforms for cryptocurrency mining. The development of Bitcoin mining all over the world has led many companies to develop and produce specialized equipment that would speed up the process of block discovery and reduce energy consumption. Therefore, in 2013, the company produced the Butterfly Labs Bitcoin miner they named ASIC, whose popularity has grown rapidly. Currently, Butterfly Labs ASICs are produced by many other companies. However, in 2014, there was a large conflict about Butterfly Labs’ products quality and their delivery, as many people received their purchases long after they had made the order or didn’t get them at all. This led to lawsuits and a U.S. Federal Trade Commission investigation after which the company was closed down. Nevertheless, the company’s future still remains unknown.