Russian Power Firm Launches Bitcoin Mining Mutual Investment Fund

Bitcoin Mining

Russia

Only qualified investors will be allowed to invest in the fund, which has a minimum investment period of five years

Author

Tim Alper

Author

Tim Alper

About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Author Profile

Share

Copied

Last updated:

3 hours ago

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

A Russian power firm has launched the nation’s first bitcoin mining-related closed-end mutual investment fund (CEF).

The Russian newspaper Vedomosti reported that the fund is called Crypto Factory. It is the brainchild of the Penza-based gas power unit provider Power Systems and the financial management firm Finam.

Only qualified investors will be allowed access to the fund. Investors’ money will go toward powering BTC mining rigs on farms that use natural gas.

The fund’s operators will then sell the Bitcoin (BTC) they mine and provide regular payouts to the investors.

Russian Power Firm’s BTC Mining CEF.

In the financial world, CEFs usually refer to investment funds that issue a fixed number of shares only once, typically during an initial offering.

Unlike traditional open-ended funds, their issuers do not continuously issue or redeem shares. Instead, CEF shares are traded on a stock exchange, much like individual stocks.

Power Systems said that it would send investors analytics data. It will also let them access CCTV camera feeds that monitor work at the mining...

https://cryptonews.com/news/russian-power-firm-launches-bitcoin-mining-mutual-investment-fund/

#crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday
***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!

This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research.

bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple

Видео Russian Power Firm Launches Bitcoin Mining Mutual Investment Fund канала Crypto World Daily