The fund was developed by Final Frontier for institutional and professional investors to gain access to the world of Bitcoin mining. This process entails updating the ledger of Bitcoin transactions known as the blockchain. Miners run extremely powerful computers in a race against other miners to guess a specific number. The first miner to guess the number gets to update the ledger of transactions and also receives a reward of 12.5 newly minted Bitcoins.
Bitfury, which holds a minority stake in Switzerland-based Final Frontier, is providing the hardware and end-to-end services for the Bitcoin mining fund. The mining sites where the equipment will be deployed will be in locations scouted and serviced by Bitfury.
The fund will invest in turnkey assets consisting of mining sites with some of the lowest electricity and operating costs globally that feature Bitfury data centers, both companies said for Reuters.
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