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May 2015: This case was administratively closed.
January 2015: This action was automatically stayed after Cointerra filed for bankruptcy.
April 2014: A class-action lawsuit was filed against CoinTerra, Inc. alleging that, among other things, the company falsely advertises the computing speed of the company’s Bitcoin mining computer hardware and software called the “TerraMiner IV.” Specifically, the company allegedly represents that the TerraMiner IV operates at a speed of 2 terrahashes per second while consuming a relatively low wattage of power when, according to the complaint, the product operates 20% slower and consumes 20% more power than advertised. (Cline et al v. CoinTerra, Inc., Case No. 14-cv-02000, N.D. Cal.)
For more information about other class-action lawsuits against technology and TINA.org’s coverage of the issue, click here.
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