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The Kodak KashMiner was a Bitcoin mining device displayed at Kodak’s booth during the Consumer Electronics Show. This event took place in January 2018 in Las Vegas. Spotlite USA promoted the Kodak KashMiner. They had licensed the Kodak name to produce Kodak-branded LED lighting products, but this idea wasn’t endorsed by Kodak.
The idea was that customers would rent the Kodak KashMiner for two years for $3,400. They could keep a cut of the Bitcoins it would mine and the machines would be placed at Kodak’s offices in New York. The machines would use power from Kodak’s in-house power plant. The U.S. Securities and Exchange Commission (SEC) halted the plan because people called it a scam.
The brochure handed out at the conference promised buyers $375 per month profit for two years. This payout was unattainable with the increasing Bitcoin mining difficulties.
After the SEC halted the plan, Spotlite Digital Asset labels replaced Kodak’s ones. Kodak stated that the KasMiner wasn’t a Kodak product and that there were no miners at their office.
In a response to the SEC, Spotlite USA CEO Halston Mikail said the company will use the machines to mine Bitcoin in Iceland instead of renting them out to consumers.
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Stefan Grasic (Dipl.-Jur) is the owner of Business24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active stock, CFD, crypto and general investment researcher, advising blockchain companies such as Blockbird, GoCrypto, Hive Terminal at their start up level. Stefan began trading in 2010 as a college student. Money was tight,…