What is the Kodak KashMiner?

0
Regal Wallet Banner

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.


Methodology
Business24-7 aims to help those interested in cryptocurrency make safe and informed investing decisions. We are dedicated to offering our readers unbiased reviews of leading cryptocurrency exchanges for traders at all levels. Cryptocurrency exchanges are included in our reviews if they are safe, liquid, regulated by proper authority, or decentralized. 

Disclaimer
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

Previous articleThe history of Bitcoin
Next articleWhat is OpenTimeStamps?
Stefan Grasic (Dipl.-Jur) is the World Wide Director of research for Buisness24-7 and has considerable experience in the financial and investment niche, but also enjoys writing articles for the general readership. Stefan is an active Crypto, Forex and general investment researcher advising blockchain companies at their start up level. He keeps fit by mountain biking, surfing, skiing and lots of other adrenaline sports.

LEAVE A REPLY

Please enter your comment!
Please enter your name here