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David Ogden
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David Ogden   My Press Releases

Bitfury and Swiss Investors Launch Bitcoin Mining Fund

Published on 4/25/2019
For additional information  Click Here

Bitfury and Swiss Investors Launch Bitcoin Mining Fund

Bitcoin mining technology firm Bitfury Group, recently valued at USD 1 billion, has entered an alliance with Switzerland-based investment firm Final Frontier to launch a regulated Bitcoin mining fund, as reported by Reuters.

Under the supervision of Liechtenstein’s financial regulator, the Financial Market Authority, the fund was developed for both institutional and professional investors to claim access to “the esoteric world of bitcoin mining”.

Bitcoin mining is basically the means by which the Bitcoin network is secured and transactions validated, using computing power to solve extremely difficult cryptographic puzzles. A computer, or a collection of computers connected to a node, credited with solving the next puzzle will have built a block. New blocks will include verified transactions and are added to a chain of chronological blocks, hence adding on to a blockchain. The node credited with finding a new block also receives a block reward of freshly minted bitcoin, so this is also a way of minting new coins, hence, Bitcoin mining.

It has proven to be a profitable business for almost a decade now, with home mining on personal computers very quickly switching to more powerful processors, and eventually companies like Bitfury manufacturing highly specialized equipment called ASICs. Bitfury’s part in this new deal will be to supply the hardware and end-to-end services for the Bitcoin mining fund. It will also be responsible for scouting out the new sites for the activities, deploying equipment and servicing them later.

Ultimately, the fund hopes to invest in mining sites operating with the lowest costs featuring Bitfury data centers. Final Frontier co-founder Imraan Moola aid:

“WITH THE BITCOIN PRICE DOWN SIGNIFICANTLY FROM ITS ALL-TIME HIGH, YET INSTITUTIONAL INTEREST GROWING EVERY DAY, NOW MAY BE AN OPPORTUNE TIME TO CONSIDER INVESTING IN BITCOIN MINING.”

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