Kodak will release mining equipment

Kodak and Spotlite are going to lease miners for rent
11 January 2018   394

The manufacturer of photographic equipment and supplies Kodak decided not to limit its presence in the field of cryptocurrency with the release of KODAKCoin. The company is preparing to enter the market of equipment for mining with the release of Kodak KashMiner. This reported by Business Insider.

Miner was represented at a technology show in Las Vegas. The license for the production of equipment under the Kodak brand was obtained by the Spotlite Energy Systems company in California.

Kodak Kash Miner
Kodak Kash Miner

Kodak and Spotlite intend to lease new miners for rent. From their future customers, they require signing a two-year contract and paying $ 3,400.

According to Spotlite and Kodak, the miner will bring tenants $ 375 per month. Thus, the expected profitability for the entire duration of the contract is $ 9,000.

Kodak attracted the attention of critics by its latest actions, stating that the company seeks a short-term increase in the price of its shares only a few years after the official bankruptcy.

If Kodak was really going to follow this path, then it's plan worked: at the time of publication, Kodak shares traded near $ 11, according to MarketWatch information, having started the week near the $ 3 mark.

Kodak Share's Price
Kodak Shares Price

Curiously, Kodak equipment looks similar to the S9 miner of the Chinese manufacturer Bitmain.

Representative Spotlite in a conversation with the BBC said that of those wishing to take advantage of the offer of the company has already gathered a line.

Mining Companies Approached Quebec

Miners are hoping to take advantage of Canadian electric utility Hydro-Quebec cheap rates
17 February 2018   108

During an interview with CTV News Montreal, spokesman Marc-Antoine Pouliot told that more than 100 crypto mining companies approached Hydro-Quebec. Few of them have already settled there.

According to Pouliot, some farms would consume more than 20x the power required for Montreal's sports and entertainment complex, The Bell Centre.

One project like that isn't a problem, but now we're talking hundreds.

Marc-Antoine Pouliot

Spokesman

Hydro-Quebec is attracting mining companies to the province with its low rates, but the cheap energy and cold weather - ideal for keeping mining machines cool.

Pouliot stated that Hydro-Quebec has a surplus of energy, which makes miners interesting clients. Taking this into account, Hydro-Quebec may raise energy rates for crypto businesses.