Grayscale Investments announced the launch of Grayscale Digital Infrastructure Opportunities LLC (“GDIO”), a bitcoin mining hardware co-investment opportunity. As reported by Cointelegraph, the company intends to use its connected staking infrastructure firm, Foundry, to acquire mining equipment at affordable prices during the crypto winter.
Cointelegraph noted that the new organization will be open to individuals and institutional accredited investors with a minimum commitment of $25,000 per business.
According to Bloomberg, the fundraising is expected to end by the end of the year and will provide liquidity equivalent to that of private equity or infrastructure assets with an investment horizon of three to five years. Accredited investors must meet certain criteria in terms of earnings, net worth, qualifications and understanding of the financial market.
“Our team has long been committed to reducing investment barriers in the cryptocurrency ecosystem – from direct digital asset exposure to diverse thematic products and now infrastructure,” Grayscale CEO Michael Sonnenshine said in a press statement.
Cointelegraph further reported that Foundry USA, one of the largest mining pools in the world, is run by the same parent firm as digital currency conglomerate Grayscale. After China’s ban on crypto trading and mining activities last year, Foundry USA became the second largest bitcoin mining pool.
More corporations have recently sought consolidation opportunities amid a bear market and rising energy costs. A cryptocurrency mining startup, CleanSpark, said in September that it had agreed to buy Mawson’s bitcoin mining plant in Sandersville, Georgia, for $33 million, Cointelegraph said.
A few days ago, the company announced a $28 million purchase agreement with Cryptech Solutions for 10,000 Bitmain Antminer S19j Pro devices. Clean Spark bought over 1,000 bitcoin miners from the Whatsminer M30S in July at a “significantly discounted price”. The mining company also purchased 1,800 Antminer S19 XP rigs in June.