Tuesday, December 6, 2022
HomeBTCGrayscale launches bitcoin mining investment firm amid ongoing crypto winter

Grayscale launches bitcoin mining investment firm amid ongoing crypto winter

As per the recent announcement on October 6 the investment firm Grayscale launched Grayscale Digital Infrastructure Opportunities LLC (“GDIO”) a subsidiary company based on Bitcoin mining equipment. Grayscale in an announcement unveils its plan to purchase mining products at a reasonable price amid the ongoing crypto winter by utilizing its connected staking infrastructure company, Foundry.

The investment management company said the company’s share is on sale and institutional investors and other investors can buy the share of the company for a minimum investment of $25,000 each. 

As per the media report the money would provide liquidity comparable to private equity or infrastructure assets that have a three- to five-year investment horizon. The company also said that the whole process will be finished by the end of the year. In addition the company also shared the criteria for the investor like investors must fulfil specific details regarding their income, net worth, credentials, and financial market expertise.

Grayscale CEO take on company’s objective

Grayscale CEO Michael Sonnenshein claimed in a media statement that his company has “long been devoted to lowering the barrier for investing in the crypto ecosystem” — from direct digital asset ownership to diverse themed products to infrastructure through GDIO.

Grayscale and Foundry have the same parent business, the Digital Currency Group, which runs Foundry USA, one of the largest mining pools in the world. Following China’s prohibition on crypto trade and mining, Foundry USA rose to become the second-largest Bitcoin mining pool in 2017.

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