Smidge.Com invests in Ciphermine
Posted by Katie Olver on August 12th, 2013
Smidge.Com has announced that it has invested 2,500 shares of its own stock of “Smidge.Com A” in CipherMine, a virtual company currently listed on LTC Global, specializing in cryptocoin mining and high-performance computing. The deal was agreed upon in the first week after launch of “Smidge.Com A”, a new fund that aims to become the largest digital currency fund by market capitalization.
Kate Craig-Wood, CEO of CipherMine, said, “I am excited to have some of our shares being included in this fund. Virtual crypto-securities are the next frontier of cipherspace financial innovation. As a busy individual with my various enterprises I am looking forward to being able to take advantage of the growth potential in this marketplace without the effort by investing in the fund.”
Alex “Smidge” Metz, CEO of Smidge.Com, describes the move as “a long term investment into a promising company led by professionals in the space”.
The two companies decided not to disclose financial details of the deal. The share swap will be completed during the week of July 22nd, 2013.
Smidge.Com A (www.smidge.com) is a virtual, actively managed, multi-asset digital currency fund announced on July 21st, 2013 by Smidge.Com. The fund is currently pre-IPO, offering direct shares to individuals and companies before going public. It aims to become the largest BTC investment fund by market capitalization.