Kodak-Branded Bitcoin KashMiner Shuts Shop After SEC Intervention

A misleading, controversial Kodak-branded mining company has confirmed the indefinite suspension of all plans to launch.

According to BBC on July 16, 2018, the Kodak "KashMiner" officially shut shop before a promised launch amidst several criticisms of an unsustainable, unproven business model.

The miner was sold by Spotlite USA, a distributor of LED and lighting products, and notably holds licenses to use Kodak's brand name for their business use.

The company's representatives claimed stable profits via bitcoin mining at the time, with reports citing a figure of $375 per month.

Spotlite told visitors the miner is available for rent at $3,400 with a two-year guarantee of profits.

The miner's sticker price was not mentioned, and it remains unclear if selling the rigs were in Spotlite's plans.

The company failed to address questions related to electricity rates, bitcoin exchange rates, and the ever-growing difficulty of mining potentially impeding their enterprising calculations.

Kodak has since confirmed the KashMiner was an unlicensed entity, with no such mining systems "Installed anywhere on their premises."

Mikail claimed eighty miners were already in operation and made no further comments on the nature of their success or client testimonials.

Now, Spotlite will run its private bitcoin mining operations in Iceland- an upcoming location for bitcoin miners for its cool climate, cheap electricity costs and no rent models yet offered to citizens.