Spondoolies-Tech
| Native name | Spondoolies-Tech Ltd. |
| Industry | Mining hardware |
| Founded | ~2013 |
| Defunct | 4 May 2016 |
| Headquarters | Israel |
| Website | spondoolies-tech.com (historical) |
Spondoolies-Tech (Spondoolies-Tech Ltd.) was an Israeli bitcoin mining hardware manufacturer. It sold consumer and commercial ASIC miners under the Spondoolies brand before ceasing operations on 4 May 2016.[1]
History
Spondoolies-Tech was among the non-Chinese ASIC vendors active in the mid-2010s. Product lines included SP-series bitcoin miners. In May 2015 U.S. company BTCS Inc. (formerly Bitcoin Shop) invested in the firm. BTCS later increased its stake and pursued a merger that had received Israeli Office of the Chief Scientist approval in early 2016.[1][2]
On 4 May 2016 CEO Guy Corem published a notice that Spondoolies-Tech had ceased operations as of that date.[1][3] The same day, a district court in Beersheva, Israel, appointed a temporary liquidator after parties sought liquidation. BTCS disclosed the hearing and liquidator appointment in an SEC Form 8-K filed shortly afterward. A further hearing was scheduled for July 2016.[2][3]
Contemporary coverage attributed the collapse to competitive pressure from Chinese hardware makers and a shortage of liquid capital, including unpaid payroll that prompted employee petitions to dissolve the company.[1] The corporate website later went offline.