According to regional reports, Norwegian billionaire and hedge fund manager Ole Andreas Halvorsen is investing in a cryptocurrency hardware company to make crystals. The company, Norway’s fourth richest, is investing in applications to produce specialized integrated circuits (ASICs) for mining chips that are said to be 300-500% more energy efficient than existing equipment.
Norwegian hedge fund giant gets into the crypto economy
According to Norwegian media, billionaire hedge fund manager Ole Andreas Halvorsen is getting into cryptocurrencies. The Trijo report explains that Connecticut-based hedge fund manager and co-founder Viking Global Investors is currently investing in a cryptocurrency company called Harmonychain.
Halvorsen joins a number of luminaries in the Norwegian region investing in the cryptocurrency sector, including investors like Kjell Inge Røkke, Bjørn Dehli and Arne Fredli. Halvorsen himself is considered one of the world’s best hedge fund managers and is ranked 11th on the Forbes list of the world’s hedge fund managers.
According to a report by Theodore Stig-Matz, Harmonychain should have been listed on the Oslo Stock Exchange. However, Stig Matz’s report notes that registration for the Oslo scholarship has been delayed.
Harmonychain’s website also contains many interesting statements about the company’s microchips. The company is developing an artificial intelligence (AI) algorithm and a Scrypt-ASIC supercomputer algorithm with two microprocessors.
Microchip] is designed for cryptocurrency accounting and mining, which is up to 300-500% more energy efficient than existing accounting systems of scrypt computers.
Miner Litecoin Script Harmonic, scheduled for delivery in late 2022, claims an estimated return on investment of 2 years.
Being a scrypt chip, the Harmonychain chip is designed for mining Litecoin (LTC) and scrypt-based coins. The company claims the chips are 300 to 500 percent more energy efficient, which would reduce computer power consumption by 70 to 80 percent. If the research and development goes well, Harmonychain hopes to deploy Scrypt ASIC semiconductors with AI potential by 2022 or 2023. The startup maintains that it will be the most cost-effective mining platform on the market when it comes to market.
According to harmonychain.com, the ASIC is designed as a dual-purpose chip with artificial intelligence potential around the edges. If production of the prototype goes well, we expect to begin mass delivery in the second half of 2022 and 2023. By industry standards, customers can expect to be paid approximately 9 to 12 months prior to delivery. This supercomputer will be the most cost-effective cryptographic hardware on the market. Our crypto supercomputer miners pay for themselves in less than two years, according to the company’s FAQ.
Halvorsen’s commitment to the crypto economy is a positive sign for many investors and enthusiasts investing in digital assets. He is one of the world’s most respected hedge fund managers and a protégé of hedge fund manager Julian Robertson. Halvorsen also joins a host of leading venture capitalists and hedge fund managers entering the cryptocurrency sector.
What do you think about the fourth richest person in Norway investing in a cryptocurrency company? Let us know what you think in the comments below.
Tags in this story
ai, AI Chips, Arne Fredli, ASIC, ASIC Mining Chips, Bjørn Dæhlie, crypto, cryptocurrency, Harmonychain, Kjell Inge Røkke, Litecoin, Litecoin Mining, LTC, mining industry, LTC, mining manufacturer, Norwegian billionaire, Ole Andreas Halvorsen, Oslo Stock Exchange, Scrypt
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