The first investable British cryptocurrency mine has launched. The mine, which will be Britain’s biggest, will be open to qualified investors through a limited company – The Third Bladetec Bitcoin Mine Ltd – which is governed and protected by UK law.
The Third Bladetec Bitcoin Mine Ltd is being launched, and will be operated, by Bladetec, a technology firm established in 2002. John Kingdon, a founding partner, will manage it alongside Declan Kennedy, founder of the Irish Forestry Funds and former Irish Entrepreneur of the Year. Bladetec has experience providing disruptive technology solutions to large multi-national organisations in both the public and private sectors, with notable clients including NATO, the UK Ministry of Defence, the United Nations, BAE Systems and the National Grid.
The mine is Bladetec’s third bitcoin mine, but the first to open itself to outside investment. This new mine will be of a far larger scale, utilising the most powerful specialist mining computers, which will make it a globally significant bitcoin mine. The mine will be housed in three locations, in London, Surrey and Suffolk.
The company aims to raise GBP10 million at GBP1 per share with a minimum investment of GBP5,000. Proceeds from the fundraising will be used to purchase the ASIC (Application-Specific Integrated Circuit)-based miners and equipment used to house and operate them. Investors will benefit from the volume of bitcoins successfully mined, plus any appreciation in the value of bitcoin during the period in which the mine will be operational (two-three years). All bitcoins mined will be stored in offline wallets and safe-deposit boxes, providing investors with a level of security that can be difficult to find in the world of cryptocurrencies, and all proceeds from the mine will be paid out in sterling. The financial promotion is offered to qualified investors via Envestors, an FCA regulated and approved platform.
Commenting on the launch, John Kingdon, Managing Director of The Third Bladetec Bitcoin Mine Ltd and Bladetec founder, says: “The launch of The Third Bladetec Bitcoin Mine Ltd is an exciting development in the world of cryptocurrencies and the UK is the perfect place for us to launch this venture. Investing in a bitcoin mine allows investors to own both the means of production and the output, with an added level of security and without the volatility that often afflicts cryptocurrencies.
“Large scale computing centre design has been at the core of our experience since Bladetec was first founded and we’re delighted to be using our skills to offer potential investors a compelling and safe way to get involved in Bitcoin mi
