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In August, Tradehill announced that they had suspended trading over regulation concerns. When we reached Tradehill for comment, they provided the following explanation:

The Internet Archive Federal Credit Union has experienced operational and regulatory issues and we are no longer able to continue our developing relationship. Both Tradehill and IAFCU were excited about this relationship and both regret this unfortunate outcome. Tradehill’s integration with IAFCU had allowed for clients to buy Bitcoin with a balance in an account with their own name. This allowed clients to trade Bitcoin with funds that were stored in a federally insured institution.

Well, Tradehill is back, sort of.

Tradehill is now running an auction business, hosting BitSyncom’s newest round of next-gen Avalon ASIC mining equipment sales. The company is launching a series of auctions, which allows customers to set their own purchase price.

To participate in the auctions, you still need to have a Tradehill verified account, and all bids are in Bitcoin.

While this wasn’t the business Tradehill originally set out, it looks like they are creating some defensibility in the Bitcoin mining equipment space. Tradehill auctions is the exclusive provider of Avalon products, as it is not possible to purchase Avalon chips directly from Avalon.

Visit Tradehill Auctions to learn more.

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