Crusoe Energy secures 50 BTC on Block Green liquidity platform.
Bitcoin miner Crusoe Energy has sold 50 BTC (equivalent to $1.3 million) of future revenue on the newly launched liquidity platform, Block Green. The two firms confirmed this news to the blockchain community.
Switzerland-based Block Green has created a marketplace where liquidity providers who are interested in investing in bitcoin can purchase future hashrate, or computing power, over a specific time frame. The liquidity platform offers information about the financials and operations of the miners, including “know-your-miner” details.
This is the biggest transaction yet on the platform, with another one for 7.5 BTC of Merkle Standard’s hashrate closing this week.
Crusoe has agreed to direct bitcoin rewards from 220 petahash/second (PH/s) of mining over 90 days to Swissborg, a Switzerland-based crypto exchange.
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The CEO and co-founder of Block Green, Sebastien Hess, has stated that the platform is 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.
Chase Lochmiller, CEO, and co-founder of Crusoe, has said that “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.”
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.
Read more: Here Are Six New Projects Looking to Mitigate Bitcoin Mining’s Energy Footprint
This article has been edited by Nick Baker.
