Hong Kong company creates $500 million fund to help miners
The JKL Group, a Hong Kong-based organization that specializes in digital asset management, has created an auxiliary fund. Its amount was $500 million. It is known that the money will be used to purchase devices for mining virtual coins.
Where will the money come from?
Based on the information in the press release, $40 million will come from family offices, wealthy investors and legal entities interested in the development of mining.
The rest of the money is planned to come from large companies that benefit from the sustainable development of the crypto world.
What JKL Group is known for
The organization conducts business in the field of mining and operations with virtual coins. This summer, the company built its first crypto mining facility. It is located in Texas, USA, and houses about ten thousand mining devices.