Grayscale Partners With Foundry to Launch Bitcoin Mining Investment Product

Grayscale – the world’s largest cryptocurrency asset manager – has announced a new investment product providing exposure to Bitcoin mining hardware.

“After talking with Mike Colyer [CEO of Foundry] and the Foundry team about crypto winter, we agreed there was an opportunity to connect investors directly with crypto mining,” said Grayscale CEO Michael Sonnenshein overThe “crypto winter” of 2022 has seen Bitcoin’s price crumble 70% from its highs last November – taking multiple crypto industry firms along with it. Some of those firms included

Grayscale said the mining cycle has now entered its “Inventory Flush” stage, where hash rate remains high, but Bitcoin’s price has declined substantially. The subsequent “shakeout”, according to the theory, will lead to a hash rate drop as miners are forced to turn off their machines. For Foundry, Colyer emphasized that now is “a really good time to start leaning in, and start investing back into the space.”

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Grayscale unveils bitcoin mining-centered investment entityGrayscale is launching Grayscale Digital Infrastructure Opportunities, 'a private, co-investment opportunity in mining hardware that powers the Bitcoin ecosystem.'
Source: TheBlock__ - 🏆 464. / 53 Read more »

Grayscale's New Co-Investment Vehicle Aims to 'Capture the Upside of Crypto Winter' – Bitcoin NewsGrayscale's new co-investment vehicle GDIO looks for opportunities within the crypto economy’s market cycles. Nice! I have been copying signals from ChiefraFba and have a 92% win rate crypto is the best Do Not miss $DESO DecentralizedSocial
Source: BTCTN - 🏆 531. / 51 Read more »

Morgan Stanley Says Crypto ETPs Continue to Grow Despite Bear Market.MorganStanley says the crypto bear market hasn't deterred asset managers and financial companies from launching ways for their clients to get access to digital assets. By willcanny99 MorganStanley willcanny99 pleased ! 🔥 I wish I foound this loong time agoo MorganStanley willcanny99 a sign that institutional interest in the digital assets sector remains strong MorganStanley willcanny99 It’s not a problem at all 😇
Source: CoinDesk - 🏆 291. / 63 Read more »