BitFury and Final Frontier Launch a Bitcoin Mining Fund

Swiss investment firm Final Frontier and blockchain infrastructure provider Bitfury have teamed up to launch a regulated Bitcoin mining fund.
The fund will allow institutional and professional investors to gain access and invest in Bitcoin mining activities, according to Wednesday’s official announcement.

Developed by Final Frontier while Bitfury will be responsible to provide hardware and other services for crypto mining associated with the fund. In addition, the infrastructure provider will also be responsible for the scout and maintain the mining locations.
Setup under the supervision of Liechtenstein’s financial regulator, the fund is aiming to invest in turnkey assets in areas with cheap electricity.
Commenting on the ambitions of the fund, Imraan Moola, co-founder of Final Frontier, said: “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.”
Still a profitable business?
Once a very lucrative business, Bitcoin mining became obsolete for small-scale miners with the influx of large corporations in the sector. However, the situation became worse for all miners as the price of the digital currency plummeted since 2018. With high electricity costs, it turned out to be a loss-making venture for most of the miners.
However, the recent rise in Bitcoin prices is encouraging the miners again to indulge in crypto mining.
Last year, the San Francisco-based blockchain company . The company was even valued at $1 billion – making it one of the largest crypto-based ventures on the globe.
Bitfury also extended its operations heavily in the overseas market recently as, earlier this year, it partnered with Seoul-based Commons Foundations to open and operate in Paraguay.
Meanwhile, the Chinese authorities are considering to completely ban cryptocurrency mining within the country. The state planning agency recently released a draft proposal and.

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