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HomeCrypto NewsMarketGrayscale Launches Private Investment Vehicle Focused on Bitcoin Mining

Grayscale Launches Private Investment Vehicle Focused on Bitcoin Mining

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Grayscale Investments is looking to leverage the upside of the Winter with the launch of its new mining-focused vehicle dubbed GDIO.


Grayscale has sealed its position in the cryptocurrency scene as the world’s largest virtual currency asset management firm. Over the years, the company has launched several products, each tailored for a particular class of investors.

As part of its attempt to satiate all investment tastes, the asset manager has recently launched the mining-focused Grayscale Digital Infrastructure Opportunities (GDIO). GDIO will allow investors to leverage the failing costs of Bitcoin mining hardware amidst the Crypto Winter.

Per information from a recent announcement, Grayscale noted that GDIO would be focused on Bitcoin mining hardware as a co-investment opportunity with affiliated subsidiary crypto mining and staking firm Foundry Digital. Grayscale and Foundry are subsidiaries of the capital market firm Digital Currency Group. 

As a means to harness the expertise of Foundry, GDIO’s daily operations will be overseen by Foundry Digital. Grayscale noted that the investment vehicle is already available for eligible investors as of press time.

Speaking on the development, Grayscale’s CEO, Michael Sonnenshein highlighted the asset manager’s dedication to providing variable investment products suitable for varying market cycles, giving investors an investment opportunity regardless of the climate.

“Our team has long been committed to lowering the barrier for investing in the crypto ecosystem – from direct digital asset exposure, to diversified thematic products, and now infrastructure through GDIO,” Sonnenshein added.

The Crypto Winter is never friendly to the crypto market, with the firstborn crypto receiving the burns of its effect. Bitcoin has seen a massive decline from its ATH of November last year. Additionally, the wave of deleveraging pumped into the system by the Terra collapse further exacerbated the situation.

Consequently, Bitcoin mining has not been the most profitable venture of late, as miners see a rise in electricity costs coupled with a failing BTC price. Mining hardware costs have consequently fallen, with equipment going for discounted prices. Grayscale seeks to take advantage of this opportunity with its new investment vehicle.

“As part of Foundry’s mission to empower a decentralized infrastructure, we’re excited to partner with Grayscale to broaden the ability to invest in Bitcoin mining during this opportune time,” CEO of Foundry Digital, Michael Colyer noted. 

Grayscale remains consistent in its digital asset investment product offerings. In March, the asset manager launched its Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE), as The Crypto Basic noted. The GSCPxE offers investors exposure to six different Ethereum Killers, including Cardano.

Recall that Grayscale charged the SEC to court following the financial regulator’s rejection of its application to convert its Grayscale Bitcoin Trust (GBTC) to a Bitcoin spot ETF.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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