Kodak will release mining equipment

Kodak and Spotlite are going to lease miners for rent
11 January 2018   1281

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.

Bitmain to File IPO Application

The application was sent to Hong Kong Stock Exchange (HKEX)
27 September 2018   436

The largest mining company Bitmain has submitted to the Hong Kong Stock Exchange (HKEX) listing application for an initial public offering (IPO), according to CoinDesk.

The application is a draft option, and some of its details, in particular the number of shares offered for sale and the immediate date of the IPO, are still in the process of editing.

Nevertheless, the document indicates that last year Bitmain's revenue was $ 2,517,719,000. This figure is higher than in 2016 ($ 277,612,000). As of June 30, 2018, the company's revenue was $ 2,845,467,000.

The application said that in 2017 the gross profit of the company was $ 1 212.7 million, which is also higher than in 2016 ($ 151,351,000).

Earlier, the head of Bitmain, Jihan Wu, expressed his indignation over the actions of the company's chief financial officer, who disclosed the figures for the first quarter 60 days after his end, and not after 90, as he had expected.

The media suggested that in the run-up to the IPO the publication of such information could have a negative effect on the company's investment attractiveness.

In addition, the document confirmed the media's information that Bitmain owns a 3% stake in Opera's Internet browser thanks to an investment of $ 50 million.

The application also indicates that the underwriters of the IPO are China International Capital Corporation Hong Kong Securities Limited, Commerce and Finance Law Offices, Maples and Calder LLP, KPMG and Frost & Sulliva