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Inside Sam Bankman-Fried’s $1B bet on a bitcoin miner on the Kazakh Steppe

Summary by Ground News
Just before crypto markets plunged last year, Sam Bankman-Fried‘s hedge fund made a $1 billion bet on Genesis Digital Assets, a Cyprus-registered bitcoin miner rigged to consume a small city’s worth of electricity in Kazakhstan.

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WSJ News Exclusive | Sam Bankman-Fried’s Supersized Bet: $1 Billion for a Bitcoin Miner on the Kazakh Steppe

Genesis Digital is one of the largest assets in the FTX-Alameda wreckage

·New York, United States
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Fox BusinessFox Business
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Inside Sam Bankman-Fried’s $1B bet on a bitcoin miner on the Kazakh Steppe

The cash injection from Sam Bankman-Fried’s Alameda Research was supersized even for the red-hot crypto startup world, and it dwarfed his other investments in private companies.

·United States
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Fox Business broke the news in United States on Wednesday, January 11, 2023.
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