Bitcoin Shop and Spondoolies to Merge Operations
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....
Related News
Bitcoin Shop, one of the first Bitcoin companies quoted on the U. S. stock market, announced that it has signed a Letter of Intent to merge with Israeli Bitcoin mining hardware manufacturer Spondoolies-Tech. The Letter of Intent follows last week's announcement that Bitcoin Shop raised $2.3 million in a venture capital funding round. Bitcoin Shop, quoted on the OTC Market with the ticker BTCS, is based in Arlington, Virginia. Besides operating an e-commerce store which accepts a variety of digital currencies and offering a multi-signature wallet with bank-grade security, the company is the....
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....
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....
Bitcoin mining equipment developer Spondoolies-Tech has ceased operations this month, CEO Guy Corem revealed. Israeli bitcoin mining equipment developer Spondoolies-Tech, a prominent bitcoin hardware manufacturer in recent years has, in a surprising announcement, revealed that it has shut down operations this month. A social media post by Spondoolies-tech CEO Guy Corem read: As of May 4, 2016, Spondoolies-tech has ceased operations. It has been a great privilege to serve the Bitcoin mining community and especially our customers. We deeply appreciate the support and faith that you have....
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....