Former Iced Tea-Turned-Bitcoin Mining Firm Sells Beverage Business

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Long Blockchain, previously named Long Island Iced Tea, has reached an agreement to sell its ready-to-drink tea business to Canadian firm ECC2 Ventures. The deal is documented in a Securities and Exchange Commission (SEC) document filed on March 6.

At the beginning of 2018, the company had rebranded from Long Island Iced Tea to Long Blockchain, seeing a 500 percent jump in shares, noting that it hoped to raise money to purchase Bitcoin (BTC) miners.

In August 2018, the company announced that it had again changed its line of business — the initial iced tea business to cryptocurrency — and was going to also focus on loyalty schemes that also leveraged digital ledger technology.

The former iced tea company is


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