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The Daily: Bitmain Launches Crypto Index, Xolaris Sets up Bitcoin Mining Fund
In this edition of the Daily, we cover Bitmain’s new cryptocurrency index and the establishment of a fund that will invest in bitcoin mining. We also look at a recently active online account that was previously associated with Satoshi Nakamoto, as well as the launch of a help center for defrauded crypto enthusiasts in Russia.
BLC10 Tracks Major Cryptocurrencies
Chinese crypto mining giant Bitmain has launched its own cryptocurrency index. It tracks the performance of the largest and most liquid digital coins on the market and is denominated in U.S. dollars. The index is designed to meet the needs of both private and institutional investors, according to the Beijing-based company.
The index page lists individual indices for 17 leading cryptocurrencies with their real-time spot prices in USD and BTC, updated by the second. A reference price is published once a day, at 10:00 a.m. Hong Kong time. Bitmain uses data from major exchanges such as Bitfinex, Binance, Bitstamp, Bittrex, Gdax, Gemini, Huobi, Itbit, Kraken, Okex and Poloniex.
The aggregated Bitmain Large Cap 10 Index (BLC10) tracks the top 10 cryptocurrencies by market capitalization. The index is evaluated monthly to ensure its methodology and scope are up to date and representative.
Xolaris Launches Investment Fund for Mining Projects
German investment management company Xolaris has launched a private equity fund dedicated to bitcoin mining. It will invest in building infrastructure and acquire new hardware for different projects. The fund will also finance the expansion of an existing mining facility in Sweden.
According to Xolaris, there’s continued demand from clients who want to participate in the mining industry, despite the recent downward trend in the cryptocurrency markets. They are welcome to support the fund with a minimum investment of €250,000 (~$283,000). The company hopes to raise between €30 million (~$34 million) and €50 million (~$56 million) for its four-year project. The expected rate of return is around 165 percent.
The first investment opportunity has been identified already — a bitcoin farm with approximately 2,000 miners in Sweden. Its capacity will be expanded with capital accumulated in the Xolaris fund. The Konstanz-based group is planning to launch a similar fund also in Hong Kong.
Satoshi’s Account Posts a Single Word: ‘Nour’
An account on the P2P Foundation network, once associated with Satoshi Nakamoto, has posted a one-word message after four years of inactivity. The status, simply reading “nour,” appeared on Thursday, Nov. 29, and has since sparked speculation in the crypto community about its meaning and authenticity. The account is linked to an old email address used by Nakamoto, email@example.com, which was reportedly hacked in late 2014.
According to one of the most discussed theories in the space, “nour” is the English transliteration of several similar words in Semitic languages, the meaning of which has the same root — “light.” In Arabic, “sabah el nour,” or “morning full of light,” is a common reply to “sabah el khair,” which means “good morning!” In modern Hebrew, “nour” means “flare,” and in Aramaic, “fire.”
The long-dormant Satoshi account has also befriended another user, Wagner Tamanaha. According to his profile, Tamanaha is based in Brazil, and his picture and family name suggest he is of Japanese descent. The user, who is reportedly a member of the Brazilian crypto community, left a message for Nakamoto on Friday. The text is in Japanese and according to Google Translate it reads: “Nice to meet you. Thank you very much, I will do my best for Bitcoins from Brazil!”
Russian Crypto Association to Help Fraud Victims
The Russian Association of Cryptoindustry and Blockchain (RACIB) has launched a help center to support crypto enthusiasts who have been defrauded by scammers or unscrupulous companies. The organization also plans to actively cooperate with Russian law enforcement agencies and Interpol in the investigation of such cases, Bitnovosti reported.
According to recently released data, the number of cyber crimes related to digital assets increased by 32 percent in Russia in the first quarter of 2018. RACIB’s project, the First Private Cryptocurrency Investigation Agency, will provide an array of services to cryptocurrency investors, including assistance in searching for stolen funds and assessing new investment opportunities in the crypto space.
What are your thoughts on today’s news tidbits? Tell us in the comments section.
Images courtesy of Shutterstock, HTP.
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