Bitcoin Mining Developer Spondoolies Shuts Down

Bitcoin Mining Developer Spondoolies Shuts Down

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 placed in us and wish you success in your future endeavors.

The manufacturer’s mining equipment was widely seen as industry standard, setting the benchmark for efficient, noteworthy mining rigs. CCN has reviewed several of their mining rigs in the past.

The closure comes as a surprise, not long after a recent investment which saw bitcoin mining firm BTCS (formerly Bitcoin Shop) increase its stake in the Israeli mining equipment developer to 9.6% from 6.6% with $750,000. The former e-commerce retailer had originally

Read more ... source: TheBitcoinNews

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