The Eastman Kodak Company is to license its brand to Spotlite, releasing a machine designed to mine Bitcoin, Business Insider reported. The two companies will rent the machines called KashMiner to the public, Kodak promoted at its booth during CES in Las Vegas.
Potential users would be asked to pay $3,400 upfront in order to rent the mining computers for a period of two years. The deal stipulates that consumers keep half of the proceeds generated by mining Bitcoin, while the other half goes to Spotlite. Partnered companies estimate that customers would earn $375 per month, which would amount to $9,000 over the two years.
Earlier on Tuesday, Kodak announced the launch of its own cryptocurrency in a licensing partnership with Wenn Digital, dubbed KodakCoin. In addition, the company is starting a blockchain technology platform called KodakOne where photographers can license their work, sell it and receive payment. Following the news, Kodak stock soared over 120% yesterday.