Bitmine AG, the Swiss Bitcoin mining hardware producer, has declared itself bankrupt
2 June 2015, 03:11
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The company has
been facing huge financial trouble and multiple lawsuits in regards to
undelivered hardware and broken promises. It has now declared bankruptcy
in the Swiss city of Bellinzona.
Bitmine AG informs that the accounts, assets and all company documents are now in hands of the Swiss justice and will be under inspection and investigation. The message posted on the homepage reads:
"We all, both as former directors of the company and as individuals, make our deepest apologies to the many customers and suppliers that were patiently waiting for a refund or compensation. As BITMINE AG’s board, we have always acted in our best good faith, within the limits of our skills and in the interests of the company and, therefore, its customers."
Bitmine AG admits that even if some units were not delivered it still is a great achievement:
"Let’s examine the above quote for a moment. Giving the benefit of the doubt, and rounding up to 2500 units paid for and shipped, that leaves 1,000 units paid for and never delivered, or nearly 30% of orders. There are very few businesses where this level of success would be considered good business, upstanding, or “not a scam.” Indeed, (a minimum of) three in ten people making purchases with Bitmine never received a thing."
Bitmine AG informs that the accounts, assets and all company documents are now in hands of the Swiss justice and will be under inspection and investigation. The message posted on the homepage reads:
"We all, both as former directors of the company and as individuals, make our deepest apologies to the many customers and suppliers that were patiently waiting for a refund or compensation. As BITMINE AG’s board, we have always acted in our best good faith, within the limits of our skills and in the interests of the company and, therefore, its customers."
Bitmine AG admits that even if some units were not delivered it still is a great achievement:
"Let’s examine the above quote for a moment. Giving the benefit of the doubt, and rounding up to 2500 units paid for and shipped, that leaves 1,000 units paid for and never delivered, or nearly 30% of orders. There are very few businesses where this level of success would be considered good business, upstanding, or “not a scam.” Indeed, (a minimum of) three in ten people making purchases with Bitmine never received a thing."
