Together with the Swiss investment company Final Frontier, mining giant Bitfury announces the launch of a joint crypto-fund this week. In the future, Liechtenstein’s main aim is to stimulate the interest of institutional investors in the industry. Meanwhile, observers currently rate the timing of mining investments as favorable.
High electricity prices, strict conditions, logistical challenges, fluctuating yields – Bitcoin mining is constantly fraught with high hurdles and uncertainties worldwide. For a long time, these insurance companies and banks stopped using their money to mine new Bitcoin.
The Dutch mining giant Bitfury wants to meet this now and open the door for investors in the often seemingly mysterious business. This Wednesday, April 24, the company announced together with the Swiss investment company Final Frontier the launch of a joint mining fund. This is to enable investors to participate in the success of Bitfury-operated mining facilities.
As it says in a joint press release, Bitfury wants to lure them with the “world’s lowest electricity and operating costs”.
The size of the fund and the immediate possibilities of the investment left both companies open at times. What is certain, however, is that the fund should be located in the tiny state of Liechtenstein and can already count on the blessing of the responsible tax authorities.
Favorable time for mining investors
Meanwhile, Imraan Moola, co-founder of Bitfury’s partner, Final Frontier, is convinced that the time is right for mining newcomers and investors:
“Despite the Bitcoin price dropping significantly from its all-time high, institutional interest in the industry is increasing every day, so this is a good time to invest in bitcoin mining.
According to analysts, the break-even point of Bitcoin mining, the point at which costs coincide with revenues, is just under 3,550 to 4,350 US dollars. In the wake of the ongoing bull run, the current price of more than $ 5,500 prospective miners now promises to earn more than $ 1,000 in profit per bit of Bitcoin mined.
Thus, Bitfury also seems to continue to focus on growth. After managing $ 80 million in investor funds last year, the mining giant continues to expand its blockchain business. In Berlin, for example, the company is currently settling in the music industry with Bitfury Surround. Overall, the market value of the Dutch is now estimated at up to one billion US dollars.