Bitfury, Swiss Investment Business Launch Regulated Bitcoin Mining Fund


Blockchain technology company Bitfury and Switzerland-based investment company Final Frontier have collectively established a controlled bitcoin mining finance.

The fund is targeted at professional and institutional investors to provide them”convenient access” to bitcoin mining, Bitfury announced at a blog article Wednesday.

Traditionally, there were”technological, logistical, fiscal and implementation risk challenges” with accessibility to bitcoin mining, the company said, adding that the fund intends to deal with these challenges using an offering that’s been approved by a European fiscal watchdog. Which particular regulator wasn’t given, however.

The fund will invest in turnkey assets comprising mining sites with a few of the”lowest power and managing costs worldwide,” scouted and run by Bitfury, which specializes in fabricating cryptocurrency mining infrastructure and mines itself.

admits the fund has been established in an”valuable” period for investors,” Closing Frontier co-founder, Imraan Moola, stated:

“Together with the bitcoin cost down considerably from its all-time large, nevertheless institutional interest growing each single day, now might be a time to think about investing in bitcoin mining”

Bitfury’s executive vice-chairman George Kikvadze explained that the finance will assist investors”strengthen” their portfolios and deliver bitcoin nearer to mainstream adoption.

Before this year, Bitfury partnered with South Korean R&D company Commons Foundation to jointly establish a community of bitcoin mining operations in Paraguay.

Bitfury is also reportedly considering an initial public offering (IPO) in Amsterdam, London or Hong Kong, maybe to be held this season. The company raised $80 million in November, at a round led by venture capital firm Korelya Capital, together with Mike Novogratz’s Galaxy Digital, Macquarie Capital and Dentsu Inc. also participating.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. AcceptRead More