Swiss investment firm, Bitfury launch bitcoin mining fund

- Swiss investment firm Final Frontier and global blockchain technology company the Bitfury Group, which was recently valued at $1 billion, on Wednesday announced the launch of a regulated bitcoin mining fund.

Bitcoin mining entails updating the ledger of bitcoin transactions known as the blockchain. Miners run extremely powerful computers in a race against other miners to guess a specific number. The first miner to guess the number gets to update the ledger of transactions and also receives a reward of 12.5 newly minted bitcoins.

The fund will invest in turnkey assets consisting of mining sites with some of the lowest electricity and operating costs globally that feature Bitfury data centers, both companies said. Bitcoin has trended higher the last few weeks, trading up nearly 4 percent at $5,594.65 on the Bitstamp platform late Tuesday.

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