Kodak gets into Bitcoin mining and will launch their own cryptocurrency

[pepe7777]

https://www.bbc.co.uk/news/amp/technology-42630136

Kodak's stock price shot up by over 120% after they announced their shift to cryptoworld: bitcoin cloudmining services and plans to launch their own cryptocurrency.

As with the digital photography, they seem to be a bit late to the party. Cloud mining craze is gone, investors are no longer blindly throwing money at anything related to "blockchain technology" and market is saturated with cryptos. But who knows, maybe it work out fine this time (did pump their stock price already).

Comments

[lovepool]

I gave you some lovin! How 'bout you give me some too?

[danielmbutler]

looks like they are just trying for a quick cash-in in the crypto market

[pepe7777]

Could be. This quote from article sums it up pretty nicely:

"This is a phenomenon we saw back during the dot com days in the late 1990s where traditional companies would mention some kind of internet strategy and their stock price would jump up," commented Garrick Hileman from the University of Cambridge.

"When you see stock prices moving like this it does appear to be troubling - it's hard to say if there's a bubble but it certainly is indicative of a frothy investment market."

Plus, their miner looks like S5 with changed case and Kodak sticker on it.