Scaramucci’s SkyBridge Has Launched A Bitcoin Mining Fund.
SkyBridge Capital, the financial business formed by Anthony Scaramucci, a former Trump associate and financier, has launched a new bitcoin mining investment vehicle.
According to the SEC filing, the investment vehicle, SkyBridge BTC Mining L.P., raised around $7 million.
According to a source familiar with the agreement, SkyBridge launched the fund for selected restricted partners to co-invest in privately held, industrial-scale bitcoin miner Genesis Digital Assets.
The company already invested in Genesis’ $431 million capital round last year, making this the hedge fund’s second investment in the mining business.
According to the company’s website, the hedge fund already held assets in numerous publicly traded miners through its First Trust SkyBridge Crypto Industry and Digital Economy ETF and SkyBridge Digital Innovation.
Core Scientific (CORZ), Bitfarms (BITF), Marathon Digital (MARA), Iris Energy (IREN), Riot Blockchain (RIOT), Hut 8 Mining (HUT), Cipher Mining (CIFR), CleanSpark (CLSK), and TeraWulf (WULF) are among the miners in the two funds.
Genesis said in November that it is building a new self-hosted bitcoin mining data center in West Texas with a capacity of 300 megawatts.
Genesis Digital Assets is not to be confused with Genesis, the CoinDesk parent company Digital Currency Group’s crypto lending service.
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