Bitfury Announces Partnership Program To Let Institutions Invest In Bitcoin Mining
Bitfury Announces Partnership Program To Let Institutions Invest In Bitcoin Mining
May 27, 2020
Bitfury Announces Partnership Program To Let Institutions Invest In Bitcoin Mining
Bitfury Announces Partnership Program To Let Institutions Invest In Bitcoin Mining
May 27, 2020

Bitfury, a mining company, has announced a partnership program to let institutions invest in Bitcoin (BTC) mining.

On May 26, it has been reported that the program will help family offices and other institutional funds diversify their portfolios into digital asset infrastructure, as Bitfury said that this was previously an arduous task for these investors.

However, the investment will be possible in data centers in North America and other unspecified regions through custom-tailored investment solutions. These may include direct investment and engagement through private equity in joint ventures, though the company declined to go into detail on how the arrangements would work.

It has been analyzed that Bitfury will manage all aspects of the operation, including site sourcing, equipment procurement, and maintenance, as the company claims to be using the most advanced equipment for mining, and it owns subsidiaries developing cooling and microchip solutions that serve its mining installations.

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Likewise, its data centers are located in Canada, Norway, Iceland, and Central Asia having access to electricity prices of “$0.03 per KWh and lower.”

For investing in Bitcoin mining, companies let institutions gain exposure to the crypto market by owning a stake in a traditional company, without worrying about crypto custody.

Thus, the company’s fortunes will strongly depend on the trend of the cryptocurrency market, while still having clearly definable valuation metrics.

Source: Cointelegraph | Image: Engadget


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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