SkyBridge Capital Creates Fund for Bitcoin Mining

    Anthony Scaramucci’s SkyBridge Capital investment firm has announced a new investment vehicle which will invest in bitcoin mining.

    A recent U.S. Securities and Exchange Commission (SEC) filing shows the investment firm has raised approximately $7 million for the new investment vehicle known as SkyBridge BTC Mining L.P.

    SkyBridge Capital plans to invest into privately held, industrial-scale bitcoin miner Genesis Digital Assets, according to a source familiar with the deal.

    In September, Genesis Digital Assets raised $431 million to expand its industrial-scale mining operation.

    The funding round was led by Paradigm and also included, NYDIG, Stoneridge, FTX, Ribbit, Electric Capital, Skybridge, and Kingsway Capital, who invested $125 million in a previous round earlier this year.

    Investors in Kingsway Capital include the family offices of Paul Tudor Jones, Paul Marshall, and Winter Capital.

    Marco Streng, CEO and Co-Founder of Genesis Digital Assets, said: “As we work towards our goal of bringing 1.4 gigawatts online by 2023, the capital raised from this round will be used to expand our bitcoin mining operations in locations where clean energy is easily accessible. We’re excited to have strategic investors on board and look forward to executing on our mission together.”

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