Are you an ultra wealthy person looking to get into bitcoin mining but don’t want to get your hands dirty or risk upsetting any regulators too much? Now you have a solution. Genesis Mining, a cloud mining provider, announced the launch of the world’s first bitcoin mining fund registered with the U.S. Securities and Exchange Commission (SEC).
The fund, which officially filed Form D with the SEC last week, will be called Logos Fund and will cater exclusively to high net worth individuals, investment funds, and accredited investors looking to take part in the cryptocurrency ecosystem. Instead of investing directly in mining by purchasing and managing their own hardware, the Logos Fund investment vehicle gives investors direct access to Genesis Mining’s industry expertise, large scale operations, and discounted hardware.
Genesis Mining was launched in early 2014, and by November 2015 had announced reaching over 100,000 customers. Its management reveals that throughout the past two years of operation, Genesis Mining has received over $100 million worth of inquiries from professional investors looking to invest in bitcoin mining through a professional investment vehicle.
Marco Streng, CEO and co-founder of Genesis Mining, stated: “We’ve made a habit of listening to our customers and doing what they ask. This is what’s allowed us to reach over 100,000 customers in just two years and what will make this fund a success. When you receive $100 million worth of inquiries from big-time investors looking to enter the market, you’d be foolish not to listen and build a solution.”
Genesis Mining says it will seed the fund with $1,000,000 of its own capital and will be managed by Björn Tilmann Arzt and other professionals who combined have over 30 years of experience in fund management and financial services law.