Bitfury, Final Frontier Partner in New Bitcoin Mining Fund Catered to Institutions and Professionals
Bitfury and Final Frontier have just announced that they have launched a new regulated bitcoin mining fund for institutions. The information was released a few hours ago by Bitfury in a blog post.
Bitfury And Final Frontier Release Bitcoin Mining Fund
The new fund has been specifically designed for institutional and professional investors that have been struggling to enter the crypto market over the past years. Bitfury is in charge of developing blockchain-related software and it also provides mining services for companies. In order to launch this fund, Final Frontier received the approval from Liechtenstein.
According to the firm, the new fund aims at addressing logistical and execution risk challenges. The firm has also been authorized by a European Financial Watchdog but there is no information about which institution was the one involved in analyzing the company’s intentions.
This firm will be investing in assets that are related to mining sites with the best electricity costs (cheap energy) and that have low operational costs globally. Bitfury specializes in manufacturing cryptocurrency mining infrastructure. Moreover, the firm also mines digital assets as well.
The CEO of Bitfury, Valery Vavilov, commented about this new partnership:
“The new partnership between Final Frontier and Bitfury is starting to produce significant benefits for investors around the world. With this innovative fund, Final Frontier is providing investors with a novel way of accessing Bitcoin mining opportunities, creating financial opportunities and furthering institutional adoption of Bitcoin.”
According to Imraan Moola, the co-founder of Final Frontier, they are launching the fund at an advantageous time for investors. Since the bitcoin price is down from its all-time high, institutional interest is also growing every single day. This could be a good opportunity to consider investing in Bitcoin mining activities.
Bitcoin’s hash rate reached an all-time high back in August 2018 when the Bitcoin network registered 60 million TH/s. In December 2018, when the market was falling to the lowest point in more than a year, Bitcoin’s hash rate dropped down to 32 million TH/s. Due to the fact that many miners left the market, difficulty dropped and miners entered the space once again.