Only qualified investors will be allowed to invest in the fund for a minimum of 5 years.

A Russian energy company has launched the country's first closed-end mutual fund (CEF) linked to Bitcoin mining, and the Russian newspaper Vedomosti reported that the fund was named Crypto Factory by Power Systems, a provider of gas turbine power units based in Penza, and the financial management company Finam. Only qualified investors will be allowed to invest in the fund, and their balances will be directed towards operating Bitcoin mining platforms in farms powered by natural gas. The fund operators will sell the mined Bitcoin and provide periodic payments to investors.

Bitcoin mining platforms of Power Systems. (Source: Power Systems Crypto account on Instagram)

The closed-end investment fund of the Russian Power Firm dedicated to Bitcoin mining (Bitcoin)

The term closed-end investment fund (CEF) in the financial world typically refers to an investment fund that issues a fixed number of shares at one time, usually during an initial offering, and issuers do not create new shares or redeem them continuously, unlike traditional open-end funds, where shares of closed-end investment funds are traded on an exchange like individual stocks.