Spondoolies-Tech and Genesis Team Up for Cloud Mining Service
Bitcoin mining hardware firm Spondoolies-Tech is partnering with Bermuda-based Genesis Mining on a new cloud mining offering.
According to the two companies, Spondoolies will provide the hardware to back the virtual contracts sold, while Genesis will operate the machines out of their existing data centers. New hardware shipments from Spondoolies’ facilities for the cloud mining service will be conditional on demand from customers.
The demand-driven model is one both Spondoolies CEO Guy Corem and Genesis CEO Marco Streng predict will be successful despite a challenging environment for the mining sector. Other companies, including BitFury, are also investing in new cloud offerings regardless of recent problems in the market.
This post was published at Coin Desk on February 2, 2015.