Genesis Mining Files With SEC for Bitcoin Mining Fund

Genesis Mining, the world’s largest Bitcoin cloud mining carrier, has announced the launch of the world’s very first managed Bitcoin mining fund. The fund, to be called Logos Fund, has actually officially filed its Type D with the SEC. According to the fund’s site, the fund will likewise enable investors to get exposure to bitcoins directly (in addition to Bitcoin mining operations).

Why Start a Bitcoin Mining Fund?According to Genesis Mining, the company has gotten more than$100 million in questions involving Bitcoin mining over the previous 2 years. While lots of Bitcoin lovers have purchased their own devices and began their own mining operations in the last few years, the reality is that this procedure is not attractive to many professional investors.The Branding Fund is intended to be an expert investment lorry targeted at

high net worth clientels. More particularly, Genesis Mining CEO and co-founder Marco Streng told Bitcoin Publication,”The fund will be easily accessible on request for recognized investors.Investors can receive more in-depth and specific info by simply contacting us [directly]

“”When you receive $100 million worth of questions from prominent financiers aiming to enter the market, you ‘d be crazy not to listen

and build an option, “Streng said.In terms of what kinds of investments will be made by the fund, Streng told Bitcoin Magazine:”We think mining is a big chance for large-scale financiers and we are bullish on the future value of Bitcoin. Our preliminary strategy will be to produce bitcoins for our

financiers for the lowest price possible, providing them access to exactly what we feel is the most interesting financial investment class that has existed in decades.” Management of the Logos Fund Björn Tilmann Arzt and Dr. Florian Putzka are currently listed as the two supervisors of the fund. Arzt has worked with Genesis Mining and as a structurer for a major European investment bank. Putzka’s experience is as a certified German legal counsel specializing in contract and bank law.Genesis Mining will be providing $1 million of its own capital to the Logos Fund. When asked exactly what this initial capital would be utilized for, Streng informed Bitcoin Publication:”All capital will be bought mining facilities and more developing its operability and production capacity in advance of outside investors signing up with the fund.”Streng added, “At this stage, most of the financial investments will be in Genesis Mining operations due to our capability to get themost affordable priced electricity and hardware, providing our financiers the most efficient mining operations that exist.”Uncontrolled Bitcoin Mining Funds Have actually Existed Before Although the Branding Fund will be the first legal, regulated Bitcoin mining fund, there were also a couple of funds offering direct exposure to the Bitcoin mining market in the early days of MiningCo.ETF was a fund traded on the now-defunct

BTC-TC and BitFunder exchanges. Carnth, the developer of the fund, explained

it as a way to” allow financiers to quickly diversify among greater quality mining possessions.”There was a big quantity of financial experimentation in the early days of Bitcoin. Some of these activities were nothing more than rip-offs and Ponzi schemes, while others, such as MiningCo.ETC, were well-intentioned items, which could perhaps be viewed as precursors to some of the new financial investment vehicles seen in the area today. The post Genesis Mining Files With SEC for Bitcoin Mining Fund appeared initially on Bitcoin Publication. Bitcoin Publication

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