Kodak Rent Out Self Branded Bitcoin Mining Rig In Return For Half The Rewards

Worlds most well know Camera producer announced they were to get into Cryptocurrency this week seeing a 100% gain in it’s stock value.

From BBC News:

The US firm said it was teaming up with London-based Wenn Media Group to carry out the initial coin offering (ICO).

It is part of a blockchain-based initiative to help photographers control their image rights.

Kodak also detailed plans to install rows of Bitcoin mining rigs at its headquarters in Rochester, New York.

At a the recent CES technology trade show in Las Vegas, representatives from Kodak were handing out fliers for a new service they will be providing with their partners Spotlite.

According to Business Insider:

Kodak and Spotlite are asking potential customers to sign a two-year deal and pay $3,400 upfront to rent the mining machines, which are used to support the bitcoin network and create new bitcoins. As part of the agreement, Spotlite gets to keep half of all proceeds the machines generate by mining bitcoin.

Spotlite and Kodak estimate customers will earn $375 a month — making $9,000 overall over the two-year rental period.

The whole thing looks like a little unprofessional in our opinion, so much so I think you have to question the legitimacy of this story. But assuming this is true it seems likely thay Kodak have just rebranded a Bitmain Antminer with the intentiom to profit from the less well financed. Even the name KashMiner sounds like some cheap chinese knock off.

As we said I think we should question the legitimacy of this, but either way it’s more evidence of the ongoing mainstream acceptance of Bitcoin into the lives of every day people.

2018-01-10T07:19:54+00:00

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