Bitcoin Shop Invests $1.5 Million in Spondoolies-Tech
Digital currency-based transaction verification company Bitcoin Shop, Inc. has invested $1.5 million in the Bitcoin mining hardware manufacturer Spondoolies-Tech. The company's official declaration follows previous month's announcement that Spondoolies-Tech has signed a letter of intent (LOI) to merge with Bitcoin Shop. Under the finalized terms, Bitcoin Shop bought a 6.6 percent equity stake in the transaction verification server manufacturer. The combination of the companies will procreate the world's first publicly traded company involved in the production of Bitcoin transaction....
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Bitcoin Shop Inc. has invested $1.5 million in Spondoolies-Tech Ltd., an Israel-based bitcoin mining company. The investment follows the announcement that BTCS and Spondoolies plan to merge. The investment marks the first step of the merger. The two companies will create the first publicly-traded company to produce bitcoin transaction verification equipment. It will also deploy bitcoin mining resources. BTCS purchased a 6.6 percent equity interest in Spondoolies. It receives exclusivity rights and pricing for current and future Spondoolies products as well as a $1 million breakup fee....
Spondoolies-Tech, the Israeli company that is merging with Bitcoin Shop to consolidate their enterprises and resources, announced today that last year it had brought in about twenty-eight million dollars. By comparison, many other companies in the Bitcoin world are still in the venture capital funding phases of their progression. Spondoolies' integration with Bitcoin Shop will focus largely on developing a seamless Bitcoin mining platform, using hardware developed by Spondoolies. Spondoolies-Tech Bitcoin mining hardware is widely respected as industry standard. In November, CCN reviewed....
In an attempt to create one of the world's first publicly traded bitcoin transaction verification companies, Bitcoin Shop, Inc. (BTCS) and Spondoolies-Tech, Ltd. have announced that they are in the process of merging. By merging, BTCS, which recently launched its own mining farm, would gain access to the technology of one of the top hardware providers in the ecosystem. The deal is an all-stock deal that will result in BTCS owning 53 percent of the combined company. This is due to the recent $1.5 million investment in Spondoolies that took place in May, which was a first step in completing....
Bitcoin Shop, Inc. (BTCS) and Spondoolies-Tech recently announced that they are in the process of merging operations in order to create the first publicly-traded bitcoin transaction verification companies. BTCS has recently launched its own mining farm and would own 53% of the merged entity. With this merger, BTCS can gain access to the technology of one of the top hardware providers in the ecosystem, which is Spondoolies-Tech. Charles Allen, the current CEO of BTCS, will act as the CEO and chairman of the merged company while Guy Corem, Spondoolies CEO and co-founder, will serve as a....
BTCS has indicated it has completed the merger with Spondoolies-Tech. BTCS shareholders now own approximately 55.4% of the merged company, while Spondoolies-Tech shareholders own 44.6% of the new entity. In a statement, BTCS CEO called the move a "major milestone" that would help reinvent the former bitcoin-specific retail website as a leading transaction processing firm. Bitcoin Shop (BTCS) and Spondoolies-Tech have signed an agreement that would find the publicly traded bitcoin services firm and the Israeli mining hardware manufacturer merging and continuing under a united brand. The....