Bitcoin Miner Crusoe Energy Secures 50 BTC on New Block Green Liquidity Platform

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Bitcoin miner Crusoe Energy has sold 50 BTC ($1.3 million) in future revenue on newly launched liquidity platform Block Green, the two companies told CoinDesk.

Switzerland-based Block Green has built a marketplace where liquidity providers seeking native bitcoin investments can buy the future hashrate, or computing power, over a specified period of time. The liquidity platform includes information about your miner’s knowledge of the miner’s finances and operations.

As part of the deal, Crusoe will direct bitcoin rewards of 220 petahash/second (PH/s) of mining over 90 days to Swissborg, a Swiss-based crypto exchange.

Block Green has focused on “offering attractive and scalable returns to bitcoin holders,” which has “triggered a lot of demand from institutions holding bitcoins” given that bitcoin returns offered elsewhere remain low. , said Sébastien Hess, CEO and co-founder.

“The biggest challenge with hashpower sales has been finding natural buyers,” and Block Green has “prioritized finding bitcoin holders looking to find a way to generate a return,” said Chase Lochmiller, CEO and co-founder of Crusoe.

The platform currently hosts 40% of the largest publicly traded bitcoin miners and is integrating more every week, Hess said. He is also working on a sustainability assessment framework for mining operations. There is a “growing demand for green BTC among LPs, who are even willing to pay a premium for it,” Hess said.

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