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- Ole Andreas is investing in the domain of crypto mining, being the fourth richest man in Norway
- The Harmonychain is planning towards building a dual-purpose AI along with an ASIC
- These would make the mining processes of cryptocurrencies efficient by 300-500%
With an increasing demand for crypto mining and also with that, the need for developing an energy-reducing crypto-mining technology. Based on recent news, the billionaire of Norway, Ole Andreas Halvorsen, invested in such a similar crypto-mining technology. He is the fourth richest man in the country, moving towards investing in claims to build an ASIC (Application-specific integrated circuit). They are planning to build such mining chips. These are 300-500% more efficient than all other existing hardware in terms of energy. Such an initiative will prove to be a very fruitful one because recently, Bill Gates had talked about the higher use of electricity in the mining of cryptocurrency.
Several investors stepping into crypto mining
The Norway report has mentioned a hedge fund of a billionaire manager. Ole Andreas Halvorsen is setting foot into the space of cryptocurrency. Trijo posted a report that said that the hedge fund manager, also the co-founder of a hedge fund project at Connecticut, Viking Global investors is very eagerly investing in the crypto firms, which is known as the Harmonychain. The investor had invested in Norway-based crypto funds and other well-known investors like Bjorn Daehlie, ROkke, etc. Adreas is considered as a very well-known top-class billionaire in hedge funds. He has also grabbed the 11th position in hedge-fund managers’ Forbes rankings.
The several initiatives to reduce the energy use for crypto mining
As per the reports, Oslo Stock Exchange was supposed to list Harmonychain, but Stig-Matz’s notes said that there was a postponement of the listings on the Oslo Stock Exchanges. A lot of interesting claims were captured on the website of Harmonychain. These claims included the microchips of the firm as well. There has also been news about developing an ASIC crypto algorithm and a dual-purpose AI. The website also adds in quotes that the microchip’s particular mention is focussed on crypto mining and accounting. It is up to 300-500% more efficient in energy. All these new entries of investors have made the market more involved in the regular dynamics of crypto and its various sources of fundings.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
