Binance Pool Unveils a $500M Fund to Support Crypto Miners

Binance Pool has recently announced that it has created a $500 million fund to provide debt financing to struggling crypto miners.

The initiative reportedly targets both public and private players in the industry.

The loan will be issued for a period of 18 to 24 months secured by cryptocurrencies and/or equipment.

Digital asset management company Grayscale Investments launched in October a product for joint investment in equipment for bitcoin miningm, whereas in September, mining service provider Bitdeer set up a $250 million fund to buy assets from “troubled” companies in the industry.