The US photography giant Kodak had gained so much after it announces their plan for creating its own cryptocurrency called KodakCoin.
Kodak has recorded nearly 120% after it revealed plans to mint its own crypto-currency.
The US firm said it was teaming up with London-based Wenn Media Group to carry out the initial coin offering (ICO).
According to the photo firm, the plan is part of a blockchain-based initiative to help photographers control their image rights.
Kodak also detailed plans to install rows of Bitcoin mining rigs at its headquarters in Rochester, New York.
Details of this second scheme – which is being branded the Kodak KashMiner – were outlined at the CES tech show in Las Vegas.
Customers will pay up-front to rent mining capacity.
Kodak is the latest in a series of companies to see its value jump after revealing plans for blockchain-related activity.
“This is a phenomenon we saw back during the dot com days in the late 1990s where traditional companies would mention some kind of internet strategy and their stock price would jump up,” commented Garrick Hileman from the University of Cambridge.
“When you see stock prices moving like this it does appear to be troubling – it’s hard to say if there’s a bubble but it certainly is indicative of a frothy investment market,” Hileman said.
Kodak developed a digital camera in 1975, but decided not to commercialize the technology at the time, and its hesitation to leave behind its film heritage is thought by some to have contributed to it filing for bankruptcy protection years later in 2012.
Since that collapse, Kodak has licensed its brand to a variety of manufacturers, with the mark appearing on batteries, printers, drones, tablet computers and digital cameras.
Meanwhile, Kodak’s other initiative, the KodakCoin, is being created as part of an effort to build a global ledger of picture rights ownership that photographers can add their work to.
Associated KodakOne software will be used to crawl the web and find pictures that have been used without permission.
The company said it would then “manage the licensing process,” so the photographer can be paid, in KodakCoin
“Kodak has always sought to democratise photography and make licensing fair to artists,” said Kodak chief executive Jeff Clarke.
“These technologies give the photography community an innovative and easy way to do just that,” he added.
The company’s shares traded more than 130% above their opening price after the announcement before closing the day 119.4% higher.