With the Bitcoin’s recent development, the eyes of the world are once again at the most popular cryptocurrency, Bitcoin. This upward movement of Bitcoin could be the sole reason that the Swiss investment firm, Final Frontier is collaborating with leading blockchain infrastructure provider Bitfury to launch a fully regulated Bitcoin mining fund for institutional and professional investors.
The fund would allow professional investors to mine Bitcoin conveniently. According to the Bitfury, there have been various challenges earlier with regard to the Bitcoin Mining, and they want to address these challenges and make it easier for the investors to mine Bitcoin.
This couldn’t have come at a better time as Bitcoin sees a significant rise in its price and people’s attention. As more people eye Bitcoin, this fund will help them mine Bitcoin much better.
Bitfury has earlier partnered with a South Korean firm with a similar goal in mind. They collaborated with Commons Foundation to launch a mining network for Bitcoin mining in Paraguay. They intend to help investors strengthen their portfolio and bring Bitcoin usage to the mainstream.
What does it mean?
If you are a professional investor looking for Bitcoin mining but don’t know where to start, you can start with this firm. Bitcoin mining will see significant growth and people will be flocking towards it. In operating with the crowd, don’t miss out on mining opportunities you get.
They intend to invest in turnkey assets consisting of mining sites with low electricity and low operational costs. Also, they have been authorized to do this by a Europian financial watchdog. They haven’t said which particular watchdog but yes, they’re authorized.
Bitfury showing promise
Bitfury has shown promise with its technological offerings raising funds as high as $80 million. They are also considering an initial public offering (IPO) in Amsterdam, London or Honk Kong sometime later this year. They have been invested in by and Dentsu Inc. also participating venture capital firm Korelya Capital, with Mike Novogratz’s Galaxy Digital, Macquarie Capital.
They show promise, and if this partnership works out, they might partner with other financial firms to create more of these mining funds that would be helpful in the long term institutionalization of Bitcoin and making it go mainstream. There’s still a lot that Bitcoin needs to achieve for it to be accepted worldwide without any issues, but the benefits are far too many.
Moreover, if Bitfury does end up working on these funds, it would raise them to prominence and their technology will help shape the future of not just Bitcoin but the whole crypto industry.