EXCLUSIVE: Miner CrusoeEnergy sold 50 $BTC of future hashrate to swissborg in blockdotgreen's biggest transaction to date. egreechee reports
Bitcoin miner Crusoe Energy has sold 50 BTC of future revenue on newly launched liquidity platform Block Green, the two firms told CoinDesk.
Switzerland-based Block Green has built a marketplace where liquidity providers looking for bitcoin-native investments can buy future hashrate, or computing power, over a specified period of time. The liquidity platform includesThe Crusoe transaction is the largest to date on the platform, while another one forUnder the deal, Crusoe will direct bitcoin rewards from 220 petahash/second of mining over 90 days to Swissborg, a Switzerland-based crypto exchange.
Block Green focused on"offering attractive and scalable yields to bitcoin holders," which has"triggered a lot of demand from institutions holding bitcoin" given that bitcoin yields offered elsewhere remain low, said Sebastien Hess, CEO and co-founder. "The biggest challenge with hashpower sales has been finding natural buyers," and Block Green has"prioritized finding holders of bitcoin who are looking to find a way to generate a yield," said Chase Lochmiller, CEO and co-founder of Crusoe.
The platform currently hosts 40% of the largest publicly traded bitcoin miners and is onboarding more every week, said Hess. It is also working on a sustainability evaluation framework for miners' operations. There is a"growing demand for green BTC among LPs, who are even willing to pay a premium for it," said Hess.
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