November 18th
Chicago, IL
Blockfills, a global leader in digital asset liquidity, technology and financial services announces a significant milestone in their leading financial services product. Blockfills announced in May that it would be providing financial solutions to mining companies who wish to purchase new generation ASIC mining equipment to restructure or grow their operations in North America. Since the first deployment of funding went out in August, Blockfills has now committed $50M in financial support to these miners in North America.
“Financial support is a primary function of any growing asset class”, says Partner and Director, Neil Van Huis. “Our objective is to continue bringing traditional practices to our rapidly growing sector which fill voids and advance the space. $50M is really just the beginning. We have another $50-70M to get finished in the next few months and expect that we could have as much as $250M done by May of 2021.”
Blockfills didn’t stop there. These miners being financed, they make up a meaningful portion of all North American mining. Blockfills has launched a mining pool that rivals some of the titans of this industry. With many of Blockfills clients looking for a more “full-service” solution, the mining pool already exceeds 1.3 Exahash, putting it amongst the top 10 globally.
“The launching of our mining pool is an example of our commitment to full service solutions for professionals and institutions in this space”, says Blockfills Co-Founder, Gordon Wallace. “Clients can get technology, access, execution, research and financial support all under one roof”. Wallace, an expert in building client focused financial solutions, has an esteemed career in the global banking and hedge fund industries. He has held Senior Managing Director positions such as Global Head of FX Trading at Deutsche Bank and Credit Suisse, while also serving the private sector running FX & Macro Product and Risk at such establishments as Citadel and Infinium Capital Management.
Last, but certainly not least, Blockfills plans to take the next step after securing a footing in the first two layers of the production side of digital assets. Their team, which has deep expertise in traditional asset classes and derivatives, plans on expanding their options portfolio and launching hashrate products. “We have always listened to the space regarding hashrate derivatives and feel that our most recent business developments have led us to the doorstep of these interesting and in-demand instruments”, reports CEO Nick Hammer. “Several legitimate institutions have cited interest in both our traditional financial services solutions as well as hashrate products. We think the time is now to build purpose-filled products as many more well capitalized and established players enter the space”.
For more information, please contact Blockfills at [email protected] or visit their website at www.Blockfills.com
Featured image via Pixabay.
