Crypto Mining Investment Platform Set to Be Established in Russia Russia is reportedly on track to launch its first mutual investment fund specifically geared towards cryptocurrency mining operations. According to Russian media, the initiative will only be open to qualified investors and will help finance the production of digital coins with the acquisition and upkeep of mining hardware. The nation's first mutual fund targeting crypto mining firms has been set up by Finam Management, which will serve as a venture capital fund for the purchase of mining equipment and then lease it out. The new closed-end funds will be registered with a specialized depository, and only investors who meet the minimum amount of 300,000 rubles (approximately $4,000) will be allowed to join. As per the report, Finam Management is aiming to raise 500,000,000 rubles (more than $6.6 million) before incorporating the leasing business. The majority of the funds will be used to buy mining apparatus, while the remainder will be used for power payments and fund maintenance. It is worth noting that, in the past, mutual funds have been established by companies to invest in blockchain-related activities, but attempts to register funds for cryptocurrency and related products have been unsuccessful. This is reflective of the Russian government's attitude towards cryptocurrencies, which has been relatively hostile. Nevertheless, the collective investment market is hoping that the authorities will ease their stance and allow the fund to launch. Artem Mayorov, Director of the Asset Management Department at Ingosstrakh-Investments, noted that if this were to happen, his firm would also create a mutual fund. Bitriver, the leading Russian miner and hardware hosting services provider, reported that there has been a great deal of interest from the biggest companies in the country. Since the fourth quarter of 2021, banks, investment companies, and management companies have been involved. Alexander Baryshnikov, the head of digital project development at Bitriver, explained: We are currently in the final stages of negotiations for the establishment of a fund. We have already had successful negotiations with the largest banks and other financial institutions. We are prepared to provide the equipment and the necessary know-how.

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Crypto Mining Investment Platform Set to Be Established in Russia

Russia is reportedly on track to launch its first mutual investment fund specifically geared towards cryptocurrency mining operations. According to Russian media, the initiative will only be open to qualified investors and will help finance the production of digital coins with the acquisition and upkeep of mining hardware.

The nation’s first mutual fund targeting crypto mining firms has been set up by Finam Management, which will serve as a venture capital fund for the purchase of mining equipment and then lease it out. The new closed-end funds will be registered with a specialized depository, and only investors who meet the minimum amount of 300,000 rubles (approximately $4,000) will be allowed to join.

As per the report, Finam Management is aiming to raise 500,000,000 rubles (more than $6.6 million) before incorporating the leasing business. The majority of the funds will be used to buy mining apparatus, while the remainder will be used for power payments and fund maintenance.

It is worth noting that, in the past, mutual funds have been established by companies to invest in blockchain-related activities, but attempts to register funds for cryptocurrency and related products have been unsuccessful. This is reflective of the Russian government’s attitude towards cryptocurrencies, which has been relatively hostile.

Nevertheless, the collective investment market is hoping that the authorities will ease their stance and allow the fund to launch. Artem Mayorov, Director of the Asset Management Department at Ingosstrakh-Investments, noted that if this were to happen, his firm would also create a mutual fund.

Bitriver, the leading Russian miner and hardware hosting services provider, reported that there has been a great deal of interest from the biggest companies in the country. Since the fourth quarter of 2021, banks, investment companies, and management companies have been involved. Alexander Baryshnikov, the head of digital project development at Bitriver, explained:

We are currently in the final stages of negotiations for the establishment of a fund. We have already had successful negotiations with the largest banks and other financial institutions. We are prepared to provide the equipment and the necessary know-how.

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March 7, 2023

Crypto Mining Investment Platform Set to Be Established in Russia </h2>
<p><strong>Russia is reportedly on track to launch its first mutual investment fund specifically geared towards cryptocurrency mining operations. According to Russian media, the initiative will only be open to qualified investors and will help finance the production of digital coins with the acquisition and upkeep of mining hardware.</strong></p>
<p>The nation’s first mutual fund targeting crypto mining firms has been set up by Finam Management, which will serve as a venture capital fund for the purchase of mining equipment and then lease it out. The new closed-end funds will be registered with a specialized depository, and only investors who meet the minimum amount of 300,000 rubles (approximately $4,000) will be allowed to join.</p>
<p>As per the report, Finam Management is aiming to raise 500,000,000 rubles (more than $6.6 million) before incorporating the leasing business. The majority of the funds will be used to buy mining apparatus, while the remainder will be used for power payments and fund maintenance.</p>
<p>It is worth noting that, in the past, mutual funds have been established by companies to invest in blockchain-related activities, but attempts to register funds for cryptocurrency and related products have been unsuccessful. This is reflective of the Russian government’s attitude towards cryptocurrencies, which has been relatively hostile.</p>
<p>Nevertheless, the collective investment market is hoping that the authorities will ease their stance and allow the fund to launch. Artem Mayorov, Director of the Asset Management Department at Ingosstrakh-Investments, noted that if this were to happen, his firm would also create a mutual fund.</p>
<p>Bitriver, the leading Russian miner and hardware hosting services provider, reported that there has been a great deal of interest from the biggest companies in the country. Since the fourth quarter of 2021, banks, investment companies, and management companies have been involved. Alexander Baryshnikov, the head of digital project development at Bitriver, explained:</p>
<blockquote>
We are currently in the final stages of negotiations for the establishment of a fund. We have already had successful negotiations with the largest banks and other financial institutions. We are prepared to provide the equipment and the necessary know-how.</blockquote>
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Russia to Establish Investment Fund for Crypto Mining – Mining Bitcoin News

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Crypto Mining Investment Platform Set to Be Established in Russia

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