ZeusMiner Halts Production of Volcano & Gen III Blade Chips, Rewards Customers For Pre-ordering

A while ago, we reported ZeusMiner is working on a new beast of a Scrypt ASIC miner called the Volcano. Said device would be able to reach up to 300 MH/s in hashing power, and the moderate power consumption of 1,000 watts. The best part of the Volcano was its price point, which would be well below US$2,000.

You may have noticed I am referring to the ZeusMiner Volcano Scrypt ASIC miner in the past tense. There is a good reason for that unfortunately, as the production of this device, as well as the production of Gen III Chip Blades has been halted.

As ZeusMiner also rolled out their ZeusHash platform, which has been a great success so far, more and more customers who pre-ordered a Volcano were wondering if that hashpower could be transferred to their ZeusHash account.

Such a decision is not easy to make, as there are a lot of pros and cons to be weighed against each other. Based on the amount of requests received, nearly 80% of pre-orders would have to be converted to ZeusHash mining power.

Unfortunately, this would mean it would be impossible for ZeusMiner to continue production of the Volcano in smaller quantities, unless they’d drastically raise the price for Volcano.  As we have grown accustomed to from ZeusMiner, raising prices out of the blue is something they would never do to their customer base, even if it was the only viable alternative.

ZeusMiner customers who pre-ordered the Volcano also voiced their concerns, as the Litecoin price is still very low (3.6 USD as of this writing), and the LTC mining difficulty is on the rise again. Both of these factors play a major role in whether users are able to get an ROI or not.

There are some factors that need clarification though. All of the funds invested into the research & development and the production of the ZeusMiner Volcano have come out of their own pocket. All of the money collector from pre-orders has been set aside in secured accounts, and is all accounted for.

Furthermore, as this is one of the parts about ZeusMiner I love the most, there are two options available to pre-order customers to retrieve their full amount PLUS an extra bonus. This once again goes to show that ZeusMiner truly cares about their customers, regardless of any adversity the company might face.

Option 1 : Transferring the Volcano/Gen 3 Blade Chips order to ZeusHash with a 10% discount and zero maintenance fees for two weeks

The 10% discount is applied based on the ZeusMiner Halloween Special. For example if you purchased 1 Volcano for $1,600 (plus shipping), you will be able to convert it to INSTANT ZeusHash HASHING POWER at $ 0.503 (1T – 9.99T range, $0.559 originally) per GHS or $ 11.691 (>1G, $12.99 originally) per MHS.

Option 2 : Refund of the full pre-order amount (USD/BTC/LTC) in the same way the payment was received + 10 or 5 GHS on ZeusHash as a free gift

All Volcano and chip blades customers will get an email from our CS team to confirm your option. If your order contains at least 1 Volcano, we will put 10 GHS into your ZeusHash account. If you ordered only Blades, 5 GHS will be given. All the transfers and refunds will be done within 2 WEEKS. If you purchased from one of our distributors, please contact our distributor for conversion/refund.

Source : https://zeusminer.com/2014/10/31/progress-update-29102014/