Bitcoin Shop and Spondoolies to Merge Operations / Sarah Jenn / Jun 11, 2015 9:00PM UTC

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 board member and executive officer.

Bitcoin Shop Merger

“With the completion of BTCS’s recent investment in Spondoolies, we will begin turn our attention to moving the merger process forward,” Charles Allen said.