Wednesday, February 28, 2024
12 C
New Jersey

Investment Firm Launches Crypto Mining Mutual Fund for Russian Investors

Must read

Gherardo Fiorenzo
Gherardo Fiorenzo is an Italian author with a unique perspective shaped by his experiences in Italy and the US. His thought-provoking articles, short stories, and reviews explore the intersections of language, identity, and culture.

According to the Russian business The Kommersant outlet, the Russian investment management company Finam Management revealed A new A fund dedicated to financing cryptocurrency mining operations in Country.

The fund will be available just to qualified investors who You can invest with a minimum of 300.00 rubles (about $4,000).

Russia Common Fund for Cryptocurrency mining

Kommersant’s report said that the fund hopes to raise 500 million rubles (over $6.6 million) which will be used to establish a limited liability company that will acquire Mining equipment and rental.

the rest of the money invest in The fund will be used for payment for electricity and others operating Fund service costs.

Investment report said in The crypto mining sector is enjoying both high rewards and risks. He also drew attention to the shortage of systems in The cryptocurrency industry and this central bank of Russia is hostile to cryptocurrency.

Central Russia bank Recently warned against Legalization of encryption, noting that move could undermine the country financial system. According to Kommersant, the launch of the fund is still subject to regulatory consent in Russia.

Industry watchers believe there has been an uptick chance Fund will be approved and so central bank He will soften his attitude towards cryptocurrency mining.

Central Russia bank Listing has already been banned of digital assets in investment funds. However, there are a few mutual funds that invest in Dealing with companies in blockchain technology Has been approved.

Vladislav Kochikov, head of Venam Group said that the mutual fund rules will be sent for Approval of a specialist deposit after March 1.

Crypto mining is gaining traction in Russia

BitRiver, a company that provides services for placement of Mining equipmentindicated that there was an explosive increase in interest in The company is one of the major banks, investment companies and the UK

According to Artem Mayorov, director of the asset administration Department of UK profitability of Mining in current the prices for bitcoin equipment and exchange rate It can be up to 50% each yeardepending on electricity costs.

(embed) https://www.youtubecom/watch? v = L90Y90A1vjQ (/embed)

market participants Note the associated risks with the purchase of equipmentindicating that it has become outdated and loses its effectiveness in commitment to new Supercomputers, which can greatly affect yield on investment.

More articles

Leave a Reply

Latest article