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Following the successful launch of its US-based mining business, JKL Group is creating a $50 million bitcoin mining fund.

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 Following the successful launch of its US-based mining business, JKL Group is creating a $50 million bitcoin mining fund.


JKL Group plans to raise $50M for a mining infrastructure fund from family offices, HNWIs, and institutional investors involved in the digital assets market by utilizing the company's experience in both asset management and Bitcoin mining. 

JKL Group is the first digital asset management company with an APAC base to establish a Bitcoin mining business in the US. Earlier this year, during their presentation at the Mining Disrupt conference, JKL announced the opening of its hosting facility, which has a starting capacity of 35MW.

The firm's current clients, who are searching for a method to diversify their exposure to digital assets, have been showing increasing interest in Bitcoin mining, according to JKL. JKL Group is introducing a Bitcoin Infrastructure Fund and bringing Bitcoin mining to institutional investors in order to meet this demand. 

The mining infrastructure fund will raise $40 million from outside investors. The financial arm of the business, JKL Capital, has agreed to investing an additional $10M in a junior tranche to cover initial losses. The fund's investment plan comprises purchasing Bitcoin mining equipment during the present bear market and deploying it through the JKL Mining network. 

According to Lin Cheung, CEO of JKL Group, "Digital assets mining offers investors an unmatched potential in terms of diversification and upside beta exposure to the cryptocurrency market." 

"On the one hand, Bitcoin mining generates a steady future cash flow that is controlled by the bitcoin blockchain algorithm, which offers a reliable starting point for pricing. On the other hand, the ROI of cryptocurrency mining is primarily influenced by four variable factors: the equipment cost, electricity costs, the output of digital assets, and the value of the cryptocurrency being mined. While these variables may be unpredictable, it is up to the investor to choose when to turn the miner on and off in order to secure the upside exposure, continued Lin.

A group of seasoned experts with backgrounds in traditional finance and knowledge of international financial markets, asset management, and quantitative investing methods created JKL Group in 2017. The group's competence in all aspects of digital assets, including quantitative trading, financing, OTC services, and Bitcoin mining, gives it a competitive advantage.

Article Credit: Global News Wire

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Comments

  1. Agha SalmanNovember 10, 2022 at 2:58 AM

    I read on one of the cryptocurrency blog that mining a cryptocurrency is waste of time and will benefit you. I was making my mind to start mining cryptocurrency so that when I mined a lot then I will sell them. Is it the best practice?

    ReplyDelete

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