Butterfly Labs Says Monarch Shipments Resumed, Refunds Coming This Month

Butterfly Labs (BFL) has announced its return to operations. It says it will resume shipping of its mining hardware and reactivate its Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term mining services.

Nearly one month ago, BFL's assets were released from a court-appointed receiver and the company was authorized to resume full business operations, subject to some conditions. The Missouri court handling the case rejected Federal Trade Commission (FTC) requests to have the company shut down entirely and permitted BFL to operate beyond the restricted scope previously negotiated.

On its website, BFL states its plans and seeks to reassure existing customers over the status of their orders and refund requests:

"We remain as committed as ever to serving you, our customer, to the best of our capabilities going forward. However, after more than three months of closure or severely limited operations we need to assess the status of all aspects of our business and determine the damage caused; we ask that you please be patient as we restart full operations and try to mitigate the impact of the shutdown."

There will also be discounts for Monarch orders and cloud mining activations, and "significant price reductions" for those cancelling refund requests in Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term for accepting hardware or services.

BFL has not been successful, however, in its bid to have the FTC suit for past grievances entirely dismissed.

Many commenters still remain highly skeptical over the company's trustworthiness, an outcome which company lawyers previously expressed concern over during their bid to have charges dismissed.