LearnBonds.com

GSR Partners With Interhash to Create Solutions for Cryptocurrency Mining Firms

GSR

Bitcoin and cryptocurrency mining can be a lucrative business if the groups involved have enough power. However, there can be quite a bit of risk involved, considering the fact that to participate properly, miners must host a vast amount of power via their computer and different GPUs. Then, when it comes to mass mining firms such as Canaan or Bitmain, these companies can be put at even more risk. However, one firm, GSR, is looking to solve that.

GSR has partnered with Interhash, a mining services company that partners with Canaan, to “protect against losses and earn yield on inventory,” reads a press release from the company.

According to the release, GSR will provide a variety of different risk management solutions to companies starting in January of next year. Speaking on the matter is Cristian Gil, the co-founder of GSR, who stated:

“The cryptocurrency industry is more volatile than any other business area, and many participants in the ecosystem are under-hedged or outright un-hedged against adverse price action. Miners are a foundational component of the digital asset space, and have to consider many volatile factors when planning their future revenue streams.”

The release also notes that around $3 billion in Bitcoin will be mined next year, and that these companies need risk-management solutions to help out while performing in that space. Richard Rosenblum, the co-founder of GSR, also spoke on the matter, stating:

“Plus, given Bitcoin’s ‘constant supply’ dynamics and other unique characteristics, new products are required to properly deliver quality risk management solutions to miners.”

All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Max Moeller

Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/

HTML Snippets Powered By : XYZScripts.com