Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

SEC hammers on Kodak KashMiner, shuts down Spotlite USA’s Kodak mining license

A Bitcoin mining computer branded as Kodak KashMiner was on display at Kodak's official stand at the CES technology show in Las Vegas.

The much-hyped digital media under the brand of Kodak KashMiner, a Bitcoin mining computer which was on a series of bitcoin mining projects is no longer in its existence.

Precisely, the computer was, in reality, a product from a company called Spotlite USA that was one of several entities that operate under license to sell products under the Kodak’s brand.

The brand licensee for Kodak LED lighting products known as Spotlite USA had originally intended to label and rent out the KashMiner for consumers but ultimately "the venture was never officially licensed and no devices had ever been installed", the CEO of Spotlite USA Halston Mikail clarified that the company would not continue the mining project. Mikail went ahead to clarify that the United States’ Securities and Exchange Commission (SEC) had stopped the Kodak mining project from continuing, according to the BBC.

The company intended to let out the Kodak KashMiner to clients for an initial fee of USD3,400. There were also intentions to set up several devices at the Kodak headquarters in New York with a view to fetch advantage of an on-site power plant’s cheaper electricity. While investors would likely be entitled certain portion of the bitcoin mined by the machine they rented from the company, and there were assurances of a $9,000 return ($375 per month) over a two year period.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.