Grayscale Investments announced the launch of Grayscale Digital Infrastructure Opportunities LLC (“GDIO”), a Bitcoin mining hardware co-investment opportunity. The company intends to acquire mining equipment at cheaper prices during the crypto winter by utilising its connected staking infrastructure firm, Foundry, as reported by Cointelegraph.
Cointelegraph noted that the new organisation, according to the business, would be open to individuals and institutional accredited investors for a minimum commitment of $25,000.
According to Bloomberg, the fundraising is expected to be finished by the end of the year and will provide liquidity equivalent to private equity or infrastructure assets with a three-to-five-year investment horizon. Accredited investors must meet certain criteria in terms of income, net worth, qualifications, and financial market understanding.
“Our team has long been committed to lowering the barrier for investing in the crypto ecosystem — from direct digital asset exposure, to diversified thematic products, and now infrastructure through GDIO,” said Grayscale CEO Michael Sonnenshein in a press statement.
Cointelegraph further noted that Foundry USA, one of the world’s largest mining pools, is run by the same parent firm as Grayscale, the Digital Currency Group. Following China’s prohibition on crypto trade and mining activity last year, Foundry USA became the second-largest Bitcoin mining pool.
More corporations have recently sought consolidation chances in the midst of a bear market and rising energy costs. CleanSpark, a cryptocurrency mining startup, said in September that it had agreed to buy Mawson’s Bitcoin mining plant in Sandersville, Georgia for $33 million, Cointelegraph stated.
Days before, the company announced a $28 million purchase agreement with Cryptech Solutions for 10,000 Bitmain Antminer S19j Pro devices. Clean Spark purchased over 1,000 Bitcoin miners from Whatsminer M30S in July at a “significantly discounted price.” The mining company also purchased 1,800 Antminer S19 XP rigs in June.
(With insights from Cointelegraph)
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