Bitcoin Mining Equipment Producer Spondoolies Dissolved by Court
Posted: Sat May 07, 2016 10:38 am
A sad ending for Israeli Bitcoin mining equipment producer Spondoolies-Tech. The firm has been dissolved by a court in southern Israel after it failed to pay its employees since April.
Founded in 2013 by a group of Israeli high-tech veterans and cryptocurrency champions, Spondoolies has raised about $12 million to design high efficiency dedicated Bitcoin mining rigs. Last December BTCS (OTCMKTS:BTCS) which merged with Spondoolies invested another $750,000 in the firm and it was hoped that the increased cash flows would make for a more stable combined entity. Now it seems the extra funds did not ... (read more)