BitFury and Final Frontier Launch a Bitcoin Mining Fund

Swiss investment firm Final Frontier and Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term infrastructure provider Bitfury have teamed up to launch a regulated Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term 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.

Final Frontier developed the fund while Bitfury will be responsible for providing hardware and other services for crypto mining. In addition, the infrastructure provider will also be responsible for scouting and maintaining 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 raised $80 million from a number of private investors. 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 massively in the overseas market recently as, earlier this year, it partnered with Seoul-based Commons Foundations to open and operate bitcoin transaction processing centers in Paraguay.

Meanwhile, the Chinese authorities are considering to ban cryptocurrency mining within the country altogether. The state planning agency recently released a draft proposal and included crypto mining in the list of activities which violated the laws of the jurisdiction.