Genesis Mining Starts Bitcoin Mining Fund, Files SEC Form D
Genesis Mining, a leading Bitcoin cloud mining provider, announced today the launch of a Bitcoin mining fund. Last week, Genesis filed Form D with the SEC for the fund, dubbed Logos Fund, which will target “high net worth individuals, investment funds, and accredited investors.”
According to Genesis, the Logos Fund investment vehicle gives investors an alternative to directly purchasing and managing their own bitcoin mining hardware, and “giving them direct access to Genesis Mining’s industry expertise, large scale operations, and discounted hardware.”
Marco Streng,CEO and cofounder of Genesis Mining, told AllCoinsNews:
“We are announcing the launch of Logos Fund which will be the world’s first Bitcoin Mining Fund. It will be an SEC registered Reg D fund.
Through Genesis Mining, we have over 130,000 customers that are mostly made up of small retail investors. After receiving inquiries from high net worth individuals and investment funds seeking to deploy large amounts of capital, we’ve created an investment vehicle just for them.”
Streng says his firm will seed the fund with $1 million of its own capital and will be managed by Björn Tilmann Arzt and other professionals, combining over 30 years of experience in fund management and financial services law. He notes that company has received over “$100 million worth of inquiries” from professional investors looking to invest in such a Bitcoin mining investment vehicle.
Launched in early 2014, Genesis Mining announced reaching a milestone of over 100,000 customers in November 2015. Genesis