The roller coaster first operated at Drayton Manor Theme Park, opening in 1984 as the Python Looping Coaster. It was transformed into the Klondike Gold Mine for the 1995 season, and continued to operate in this guise until the end of the 2004 season.
The ride was moved, with its scenery intact, to Funland Hayling Island where it operated from 2005 to 2015. It was then bought by Irish travelling rides operator Euroshow who debuted the ride in October 2015. The ride no longer operated with scenery following its purchase from Funland and operated under the name Speed Loop.
In August 2018, the coaster was acquired by Deggeller Attractions. It debuted at the Rodeo Houston event in March 2019.