This HashFast board is no longer for sale.
SAN FRANCISCO—It’s hard to know what exactly is going on with HashFast, an embattled Bitcoin miner manufacturer. Since last summer, the company has made a series of promises that it has been unable to keep. Customers have become increasingly frustrated and, more recently, litigious.
As of early this month, there are a total of two federal lawsuits alleging fraud, along with five separate arbitration cases—the fifth one was filed just last week—that have been filed against HashFast. Two arbitration cases are scheduled to have case management conferences on Tuesday. By coincidence, HashFast is also under court order to respond by Tuesday to a federal lawsuit filed in Texas alleging breach of contract and fraud, among other accusations.
In the United States, arbitration is a type of alternative dispute resolution conducted outside of a courtroom—companies sometimes use it as a more private and faster alternative to the public judicial system. Many arbitrators are retired judges, but the exact procedural rules are different from case to case. Arbitration documents, unlike court filings, are not typically made public.
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