Bitcoin Shop, Inc. (BTCS) and Spondoolies-Tech Move Forward with Merger
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....
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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....
Bitcoin Shop, Inc. (BTCS), the first publicly traded Bitcoin company in the U.S., has announced that its management will voluntarily cancel all outstanding options of the company. According to Charles Allen, CEO of BTCS, the move will facilitate a new equity plan that will be realized after the merger with the Israeli-based mining hardware manufacturer, Spondoolies-Tech. The process to merge the two blockchain technology companies began in April when BTCs signed a letter of intent. When the merger is actualized, they hope the new entity will become a major player in the transaction....
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 bitcoin hardware and cloudmining company has stopped operations. The Bitcoin industry can get unpredictable sometimes, just like the value of digital currency. In one such sudden, out of the blue announcement, Spondoolies-Tech’s CEO, Guy Corem in a post on the company’s page has announced that they have shut down their operations. The Israeli Bitcoin hardware and mining solutions firm has been one of the leading transaction server manufacturers in the bitcoin industry. The news about the company shutting down its operations comes close to the recent merger between....