Genesis Mining Launches First Bitcoin Mining Fund

According to Reuters, Bitcoin mining and hardware equipment supplier Genesis Mining has launched the world's first Bitcoin mining fund, which will be dedicated to developing new digital currency technologies. The company said the fund's registered capital is $1 million. Genesis Mining co-founder and CEO Mark Stren said that investors have expressed their intention to invest $100 million , and the fund's minimum investment threshold is $25,000 .

“Obviously, our fund will be more focused on bitcoin mining, but we will also support direct bitcoin exchange transactions,” said Stren.

BitcoinStrong hopes to generate strong interest from investors despite the challenges currently facing the sector , which has seen profits from Genesis mining dwindle due to increasing competition.

The emergence of the new fund means that investors no longer have to purchase the company's mining hardware equipment to invest as before, and they can choose to inject funds directly.

Since its establishment in 2014, Genesis Mining has been committed to contributing to the Bitcoin community. The company will continue to mine Bitcoin in Iceland using the abundant geothermal and hydroelectric resources there.

According to Bitcoin media CCN, the company officially announced in November 2015 that it has more than 100,000 customers and that its profits have exceeded $100 million in the past two years.