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Long Blockchain is backpedaling on it's “blockchain” promise
- thisisit 9y agoThe context here is that the company called Long Island Iced Tea changed it's name to Long Blockchain and promised that it "is shifting its primary corporate focus towards the exploration of and investment in opportunities that leverage the benefits of blockchain technology" [1]. One of these investment opportunities was to sell $8.4 million shares to buy 1000 Antminer S9 bitcoin mining machines [2] [1] http://markets.businessinsider.com/currencies/news/long-island-iced-tea-company-pivots-to-blockchain-stock-explodes-2017-12-1011743880 http://markets.businessinsider.com/currencies/news/long-isla... [2] http://markets.businessinsider.com/news/stocks/long-island-iced-tea-company-to-buy-bitcoin-mining-machines-2018-1-1012525242 http://markets.businessinsider.com/news/stocks/long-island-i...