The developer behind the purported and much-publicized Kodak-branded bitcoin mining equipment has officially halted operations and has denied ties to Kodak.
As CCN reported, KashMiner, a bitcoin mining equipment, was showcased at CES 2018 back in January by the company Spotlite USA, which claimed to be a licensee of the Kodak brand.
Spotlite stated that they were offering two-year leases on their machine which will cost $3,400 to rent. Customers were assured that the miner would bring in a monthly revenue of $375 worth of bitcoins, or $9,000 over the course of two years. They told that they would also take a cut of half of the generated bitcoin. The company stated that 80 of these devices were already in operation with plans to increase the operations multifold.
Halston Mikail, the chief executive of the whole operation, stated that they have plans to install these devices at the Kodak headquarters located in Rochester, New York to take advantage of the cheap on-site electricity.
Industry experts were quick to criticize the scheme stating that the monthly returns were misleading and that customers would struggle to break even on their investment. It then came to light that the machine was simply a Bitmain produced Antminer S9 machine with Kodak branding.