On December 7, 2021, Singapore time, the crypto asset management platform ASIN and RedBlock entered into a partnership and will jointly launch a Bitcoin Mining Fund in Singapore in 2022. The initial scale of the offshore fund is USD 20 million.
The fund products will be issued by asin.vip. It is expected to purchase the first batch of 2,700 Bitcoin mining machines, at the same time, to develop the mines in Singapore and North America simultaneously.
The second phase of the mining fund will be deployed to implement more Bitcoin mining farms in other regions. The scale of mining power consumption is expected to reach 200 MW, and it is planned to add 50,000 machines in 2022. At the same time, both sides will attract more institutions to deepen the cooperation and to establish a more complete mining system.