According to regional reports, Norwegian billionaire and hedge fund manager Ole Andreas Halvorsen is investing money in an energy-saving cryptocurrency mining chip hardware company. Norway’s fourth-richest company is investing in claims to develop its application-specific integrated circuit (ASIC) mining chips, which are said to be 300%-500% more energy efficient than existing hardware.
Norwegian hedge fund giant dabbles in the crypto economy
Norwegian News reported in detail that billionaire hedge fund manager Ole Andreas Halvorsen inserted his toe into the cryptocurrency space. A report by Trijo explained that the hedge fund manager and Connecticut hedge fund co-founder Viking Global Investors is now investing in Harmonychain, a company focused on cryptocurrencies.
Halvorsen is working with many well-known lighting investors from the Norwegian region to invest in the cryptocurrency field with investors such as Kjell Inge Røkke, Bjørn Dæhlie and Arne Fredly. According to “Forbes” reports, Halvorson himself is considered one of the world’s highest-paid hedge fund managers, and has ranked 11th among global hedge fund managers.
According to a report written by Teodor Stig-Matz, Harmonychain should be listed on the Oslo Stock Exchange. However, the Stig-Matz report pointed out that the listing on the Oslo Stock Exchange was delayed.
The Harmonychain website also made many interesting claims about the company’s microchips. The company is developing “dual-purpose artificial intelligence (AI) and Scrypt algorithm ASIC supercomputer chips.”
The harmonychain.com website adds:
[The microchip] Designed specifically for cryptocurrency accounting/mining. Compared with the existing Scrypt accounting computer system, its energy efficiency is improved by 300%-500%.
Harmonychain’s Litecoin Scrypt ASIC mining machine will be listed in the second half of 2022, claiming to be recyclable for 2 years
Since the chip is Scrypt, the Harmonychain chip is dedicated to mining digital assets litecoin (LTC) and Scrypt-based coins. The company claims that the energy efficiency of these chips has increased by 300%-500%, which will actually reduce the energy consumption of the computer by 70-80%. If research and development progress smoothly, Harmonychain hopes to deploy Scrypt ASIC semiconductors with AI potential by 2022 or 2023. The startup insists that it will be the most profitable mining hardware when it launches.
“The Chanelchain.com website states: “ASIC is designed as a dual-purpose chip with edge AI potential. “If the prototype production is normal, we plan to start mass delivery in 2022 and the second half of 2023. According to industry standards, customers can expect to pay approximately US$200 in advance. 9-12 months before delivery. Supercomputers are expected to become the most profitable encryption hardware on the market. The payback period of our Crypto supercomputer miners is estimated to be less than 2 years. “The company’s FAQ added.
Halvorsen’s entry into the crypto economy is a bullish sign for many digital asset investors and enthusiasts. He is one of the most respected hedge fund managers in the world and a protégé of hedge fund manager Julian Robertson. Halvorsen also joined many venture capitalists and well-known hedge fund managers and entered the cryptocurrency economy.
What do you think of Norway’s fourth-richest man investing in a cryptocurrency mining chip company? Let us know your thoughts on this topic in the comments section below.
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