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Iceland-based Genesis launches Bitcoin mining fund

Friday 4 March 2016 | 10:55 AM CET

Genesis Mining has launched a fund that invests in hardware used to create the digital currency.

Bitcoins are created through a "mining" process involving computer algorithms on equipment owned or rented out by companies such as Iceland-based Genesis. Bitcoins, which are worth more than USD 400 each, can be purchased from trading exchanges such as BitStamp and Kraken.

The Logos Fund was registered with the US Securities and Exchange Commission last week, Genesis said in a statement. The fund will issue pooled investment fund interests to investors in an offering expected to last more than a year.

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