Yesterday Italian asset manager Azimut announced it invested €105 million ($113m) in the debt of Alps Blockchain, which provides Bitcoin mining infrastructure mainly using renewable energy. Azimut is an investor in digital asset bank Sygnum and is active in tokenization efforts.
Azimut’s Alps Blockchain investment was via a five year guaranteed bond using a Luxembourg special purpose vehicle.
The startup’s name comes from the Italian alps where it located its first mining farms to take advantage of hydroelectric power. Hence, the company claims it’s possible to reduce mining energy consumption when the grid needs more power and increase usage when there’s excess hydroelectric power. It now has mining farms in Paraguay and Ecuador using a very similar model, plus another in Oman.
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