Cryptosmart, an Italian cryptocurrency exchange, announces that it has successfully completed the first tranche of the capital increase of a total of 3.5 million euros and has completed the acquisition of IBX AG, a company specializing in bitcoin mining.
IBX AG operates proprietary miners in datacenters in Iceland, Canada and the USA and has developed BHP (bitcoin hash power), an innovative service that allows you to participate in bitcoin mining. The collaboration will allow Cryptosmart to increase its portfolio of assets and, most importantly, continue its growth path in the cryptocurrency industry.
This acquisition represents an important step for Cryptosmart in its strategy of international expansion and expansion of its services through the commercialization of BHP, a utility token linked to computing power (1 BHP token = 1 terahash of a miner’s computing capacity). In fact, the user who owns the token buys computing power and actively participates in bitcoin mining, receiving weekly rewards distributed by the bitcoin blockchain on their wallet held at the Cryptosmart platform.
“As entrepreneurs living in Italy, we realized that there is a lack of access to cryptocurrencies and digital assets in the country, especially for ordinary people. Finance, to be truly democratic, must be easy to understand, reliable, and inexpensive. Thanks to the acquisition of IBX, Cryptosmart can provide a new service that allows anyone with a simple click to participate in bitcoin mining, without the need to directly purchase miners or have specialized technical expertise in the sector,” Alessandro Frizzoni, co-CEO and founder of Cryptosmart, said in a statement.(Photo by Kanchanara on Unsplash)
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