Genesis Mining, a well-known Bitcoin mining service, has announced the launch of the first Bitcoin Mining Fund. The fund, known as Logos Fund, is the first SEC-registered Reg D fund, and has already gathered over $100 million USD in interest from both investment groups and individuals. Genesis Mining has committed $1 million of their own capital to seed the fund and enable growth.
Genesis Mining CEO Marco Streng told Bitcoinist:
“After receiving over $100,000,000 in inquiries from large-scale private investors and investment funds, we decided to launch an investment vehicle which would give them access to Bitcoin mining infrastructure investments. After 6 months of development with our legal team, we are pleased to finally announce Logos Fund.”
The fund will be managed by Björn Tilmann Arzt and other members with extensive experience in fund management and financial services law. The Logos Fund is designed for large investors and to provide them with access to Genesis Mining’s expertise, operations, and discounted hardware in order to invest in Bitcoin in a more professional way. The launch of the Logos Fund could shape the future of Bitcoin mining for investors in the future as the industry becomes more established and reputable. Registration with the SEC to offer securities is a step in the right direction to both promote the integrity and reliability of a company as well as take measures to protect investors. With a positive track record, Genesis Mining is on the right track to creating a successful investment option for large investors to invest in the rapid growth of Bitcoin.
In order to participate in the fund, investors will need to invest an unspecified amount that would be locked in for a certain period of time. Rather than own a cloud-based contract, investors in the fund would have a stake in the physical hardware owned by Genesis Mining.
“We’ve made a habit of listening to our customers and doing what they ask. This is what’s allowed us to reach over 100,000 customers in just two years and what will make this fund a success. When you receive $100 million worth of inquiries from bigtime investors looking to enter the market, you’d be foolish not to listen and build a solution,” – Marco Streng, Genesis Mining CEO
Through the development of the business and providing over 130,000 customers with Bitcoin mining services, the creation of a large SEC registered Reg D fund was possible.
What do you think about the Logos Fund? Let us know in the comments below!
Images via Genesis Mining and Pixabay.
Drew is an undergraduate student at the University of Texas at Dallas, majoring in Business. He is an active member of the Cryptocurrency community, and enjoys collecting, trading, and writing about various coins. Outside of the digital currency world, Drew tends to spend his time with friends, playing video games, or studying. Feel free to email him with news tips or questions at [email protected]
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