Bitfury Mining Institutional Fund Approved by EU Regulator.
A partnership between Bitfury and a Swiss investment firm to launch a Bitcoin mining fund for institutional investors.
According to company executives on Twitter, Final Frontier, in which Bitfury owns a minority stake, received approval for the launch of the fund from the regulator of Liechtenstein.
The fund will focus on institutional investors and provide whales with access to the mining industry. Bitfury called the creation of the fund a profitable venture for the emerging sector. The company will provide equipment for the project, which will also use various Bitfury mining centers to ensure reasonable mining costs.
“Given that the price of BTC has fallen significantly from record levels, and institutional interest is growing every day, now it may be time to think about investing in bitcoin mining,” said Imraan Mula, co-founder of Final Frontier.
This initiative is being implemented at an appropriate time for the Bitferi company, which was previously included in the list of billionaires involved in the implementation of blockchains. However, not all cryptocurrency mining companies make a profit. Recently it became known that the Chinese construction company Huatie is selling its mining business, which brought him $ 23.5 million in losses a year.
In addition, regulatory tension continues to grow, including in Asia. In early April, the Chinese government added production to the list of “undesirable” industries.
Bitfury has partnered with a Swiss investment firm to launch a Bitcoin mining fund for institutional investors.
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