We seek to diversify the jurisdictions of where we invest. Bitcoin miners seek out power that is stranded, forgotten, wasted, or renewable because those will be the lowest cost of power. This could be anywhere. Countries around the world (and states within the United States) are adopting Bitcoin mining at their own pace.
At Freights Bay, we merge expertise in crypto mining with a commitment to sustainability.
Our projects harness renewable energy like hydropower to fuel Bitcoin mining, delivering impactful, fixed-income opportunities.
Guided by cutting-edge strategies, we aim to align financial growth with environmental responsibility.
We purposely do not want the fund to hold long term assets so that it can remain nimble. Instead of self-mining, for a fee, we diversify partnerships with hosts who share the same renewable energy mandate. With this approach, we do not need to make capital expenditure on infrastructure or incur operating expenditures on a self-mining workforce. We try to select hosts with multiple jurisdictions.
We plan to diversify energy sources, but the lowest hanging fruit of renewable energy so far has been hydro power. Primarily this is because there is existing infrastructure and excess capacity on a global level. However, as we build our network within industry, there will be opportunities to diversify our energy sources into things like flared methane, biogas, solar, wind, nuclear, etc. We will only pursue renewable energy that is profitable.
The distribution channels for ASIC machines are direct from the manufacturer for very large purchases, the wholesale market via brokers, and through hosting providers. Many hosting providers require that machines are purchased through them because many of them build margin into their pricing to provide for the capex they need to build their next facility. We monitor wholesale market pricing and purchase as advantageously as possible. Typically, the latest released models have the highest premiums when they are released, but they drive prices down of older models which are still brand new. We purchase ASIC machines with a two-year breakeven in mind and will consider selling some or all of them depending on market conditions.
