A company that promised people who rented their computers to mine Bitcoin double profits within two years has gone bust after being accused of fraud, according to the BBC. The US Securities and Exchange Commission recently banned the launch of the rental system.
In January, Spotlite USA demonstrated its computer Kodak KashMiner at the official Kodak booth at the technology show in Las Vegas. Company representatives offered to rent the device for $3,400 for two years of use. The adverts stated that the device could mine $375 worth of Bitcoin per month, and that money would belong to the person renting the computer.
Company representatives also talked about their plans to install hundreds of similar devices at Kodak headquarters in order to benefit from cheap electricity.
However, a Kodak employee told BBC reporters that the company never licensed this product and never installed these devices at its headquarters. Some critics also point out that Bitcoin is becoming harder to mine over time.
“This magical Kodak of yours will not be able to produce the same $375 every month,” BBC quotes economist Saifedin Ammous.
Michael Halston, chief executive of Spotlite, said the company has ultimately abandoned the rental scheme and plans to install and operate Bitcoin mining equipment in Iceland.
According to ccm.net
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