New Fund Aims to Bring Bitcoin Mining Profits to High Net Worth Investors


High net worth investors can now gain exposure to speculative bitcoin mining through what’s being billed as the world’s first “bitcoin mining fund”.

Logos Fund, a Regulation D offering, is positioning itself as an alternative products like the Bitcoin Investment Trust (BIT), the private investment vehicle launched by Digital Currency Group CEO Barry Silbert, by creating an offering that blends bitcoin mining with buy-and-hold investing.

The fund was created by Marco Streng, founder of hosted cloud mining company Genesis Mining. Logos Fund managing partners include Björn Tilmann Arzt, global head of structured capital markets at UniCredit, and Dr. Florian Putzka, senior legal professional at UniCredit, though the Italian financial group is itself not directly involved.

Streng said that the fund aims to be a “safe vehicle” for investment in bitcoin, and that his hosted mining firm, Genesis Mining, will serve as the Logos Fund’s initial partner.

Strong told CoinDesk:

“Mining can be profitable, but you have to have the right infrastructure, lowest electricity prices. We want to use all our expertise and infrastructure to enable external investors to leverage on bitcoin.”

Genesis Mining offers a service typically called hosted bitcoin mining, or cloud mining, in which

Read more ... source: TheBitcoinNews