Bitcoin

This $3400 bitcoin-mining machine is a cornerstone of Kodak’s crypto pivot


Kodak’s stock has more than tripled this week, since the once-giant of photography announced a pivot into blockchain technology and cryptocurrency.

Part of their move is a Kodak-branded mining rig called the KashMiner, which was showcased at this year’s CES. It’s created and run by a company called Spotlite, and has licensed the Kodak name.

Here’s how it works: Users pay $3,400 to rent the mining machine for two years.

Kodak claims the KashMiner will produce about $375 worth of new bitcoins every month, which would lead to estimated revenues roughly $9,000 over those two years.

But here’s the catch: You have to give back half your profits.

And others warn the $375 figure is exaggerated, as those bitcoin returns will diminish every month:

The company is also launching its own cryptocurrency, “KodakCoin.”





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