According to Local media reports, Ole Andreas Halvorsen (The Norwegians billionaire and hedge fund manager) is investing funds into an energy-diminishing crypto mining chip hardware company.
The fourth wealthiest man in Norway is investing in claims to assemble application-specific Integrated circuit (ASIC) mining chips that are said to be 300 percent to 500 percent more energy efficient than current equipment.
The Crypto Economy Attracts Ole Andreas Halvorsen
Norwegian news reports describe that billionaire hedge fund manager Ole Andreas Halvorsen is plunging his feet into the crypto community. Trijo News reports that the co-founder and manager of the Connecticut-based hedge funds, Viking International Shareholders, are now also investing their assets into a cryptocurrency-focused company named Harmonychain.
Several popular Norwegian investors, such as Kjell Inge Røkke, Bjørn Dæhlie , and Arne Fredly, join Halvorsen to invest funds in the cryptocurrency ecosystem.
According to Forbes, Halvorsen is one of the highest hedge fund managers in the world, and he is currently ranked as the 11th biggest hedge fund manager in the world.
Harmonychain was expected to be listed on the Oslo Stock Exchange, according to a report published by Teodor Stig-Matz. The listing on the Oslo Stock Exchange, however, has been postponed, according to Stig-article. Matz’s
The Harmonychain website also has several fascinating claims about the microchips of the firm. The firm is working on a “dual-purpose Artificial Intelligence (AI) and Scrypt algorithm ASIC Supercomputer microchip,”
The website of Harmonychain.com adds
The microchip is tailored towards Cryptocurrency accounting/mining that is up to 300%-500% more energy efficient than existing Scrypt accounting computer systems.
Harmonychain’s Litecoin Scrypt ASIC Miner, scheduled for release in late 2022, claims a two-year payback duration.
The Harmonychain chip is devoted to mining the digital currency litecoin (LTC) and Scrypt-based coins because it is Scrypt. According to the company, the chips are 300 to 500 percent more energy-efficient, which will cut down the energy consumption by 70 to 80 percent. Harmonychain expects to deploy Scrypt ASIC semiconductors with AI potential by 2022 or 2023 if research and development goes well. When it is launched, the startup claims it will be the most cost-effective mining hardware available.
Harmonychain.com stated that The ASIC is a dual-use chip with the possible advantage for Artificial Intelligence. “We expect to begin mass delivery in H2 2022 and 2023 if the prototype project goes well. Customers should plan to prepay between 9-12 months before delivery, according to regulations and guidelines. The Supercomputer has the potential to be the most valuable and profit-making Crypto electronics available. According to the company’s Wiki page,
“our Crypto Supercomputer miners have an estimated payback of fewer than 2 years.”
Halvorsen entering the crypto economy is an Encouraging and positive Indication for many digital asset holders and enthusiasts. He is one of the world’s most admired and prestigious investment managers .
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