Blockchain Press Releases
Azimut strengthens its support for the excellence of the Italian Alps blockchain with a new €105 million club deal
The new capital will finance the international expansion of the company, which specialises in the production of computing power for blockchain technology and the digital mining process, thereby encouraging energy transition.
MILAN and TRENTO, Italy, July 29, 2024 /PRNewswire/ — Azimut, an independent, global group in asset management, wealth management, investment banking and fintech, has successfully completed a new club deal to invest in Alps Blockchain S.p.A., one of Europe’s leading companies and a leader in Italy in the production of computational power for blockchain and digital mining.
This new €105 million investment by Azimut in Alps Blockchain, whose commitment was reached in just two days, follows a previous round of €40 million in 2023, confirming the confidence and involvement of private investors in the growth of this innovative company.
Azimut’s investment was made through Azimut Direct Investment Alps Blockchain II SCSp, a dedicated Luxembourg vehicle that invested in a 5-year guaranteed bond with the option of early redemption by Alps Blockchain. This transaction allowed around 1,000 customers, served by the Group’s network of financial advisors and wealth managers in Italy, to gain exposure to the growth of the blockchain sector.
Alps Blockchain is an Italian company that builds and operates mining farms with the aim of contributing to the development of new technologies and supporting the evolution of the energy sector, combining innovation and efficiency. Thanks to a path of continuous development, in the last three years the company has quintupled the number of mining machines installed in its planned sites globally from 2,500 to over 15,000. This increase has enabled the company to reach a total energy capacity of 50 MW and more than 2 EH/s (exahash per second) of computing power produced by June 2024.
Alps Blockchain’s positive trend is also reflected in its financial results. Revenues increased from €697,000 in 2020 to €17.3 million in 2022. In 2023, thanks in part to Azimut’s first investment round, revenues reached €43.6 million, an increase of around 140% compared to the previous year, which, with a positive EBITDA, confirms the company’s solid development capacity.
The funds raised will be used to support Alps Blockchain’s growth and internationalisation path, with a focus on consolidating and implementing its existing operations and considering expansion into new markets to further strengthen its global position.
From Italy, the company has already established operations in countries such as Paraguay and Ecuador, where the completed mining farms use hydroelectric power. Alps Blockchain actively supports the energy sector not only by focusing on hydropower, but also by exploring new sources and projects to promote the energy transition. Among the key markets for future growth is Oman, where the company is already present with a state-of-the-art mining farm within the Green Data City technology hub. The strategic focus is also on North America, a major destination for the mining industry and attractive for new expansion opportunities.
Giorgio Medda, CEO and Global Head of Asset Management & Fintech of the Azimut Group, commented: “We are thrilled to strengthen our relationship with Alps Blockchain, whose objective is to make mining more sustainable, and to offer our customers the opportunity to participate in the growth of an all-Italian excellence that is rapidly establishing itself around the world. This new transaction is part of Azimut’s broader commitment to promoting a global and sustainable energy transition through innovative investment solutions in private markets. A commitment that from 2022 to date counts investments of over €350 million. Our vision is that asset management can increasingly play a crucial role in combining efficient capital allocation with building a more sustainable future‘.
Francesco Buffa, CEO of Alps Blockchain, stated: ‘At Alps Blockchain we are committed to shaping projects that foster the synergy between new technologies and the world of energy, generating a positive impact in both sectors. This new investment is an extraordinary confirmation of the confidence in our work and an essential support for the near future. On the sixth anniversary of the company’s establishment, which was July 20th, we are enthusiastically inaugurating a new chapter in its history dedicated to the pursuit of ambitious growth targets.
Francesca Failoni, CFO of Alps Blockchain, added: “The increase in resources will allow us to contribute even more substantially to the blockchain ecosystem, fostering the development of solid and sustainable projects over time. Thanks to this financial transaction, we will not only be able to increase and make our existing sites more efficient, but also invest in the construction of new facilities, aiming to quadruple the production capacity of computing power in the service of this technology by the first quarter of 2025.”
Glossary
Blockchain: a digital ledger based on a decentralised data structure consisting of a series of concatenated blocks containing transactions. The blockchain is designed to be secure, transparent and tamper-proof through the use of cryptography and the participation of a network of nodes that validate and store information in a distributed manner.
Mining: The process by which transactions are verified, grouped into blocks, validated and added to the blockchain. Critical to some types of blockchain, such as that of bitcoin, this process is carried out by miners, who use computing power to solve complex cryptographic functions in exchange for fees and the issuance of new cryptocurrency value.
Mining farm: A mining farm is a data centre designed to generate computing power to serve the blockchain. It is an industrial facility that houses a group of specialised devices designed to solve cryptographic functions, called ASICs (Application-Specific Integrated Circuit), which work in a coordinated manner to perform the mining process.
Azimut is an independent, global group in asset management, wealth management, investment banking and fintech, serving individuals and businesses. A public company listed on the Milan Stock Exchange (AZM.IM), it is a leader in Italy and present in 18 countries worldwide, with a focus on emerging markets. The shareholding structure sees around 2,000 managers, financial advisors and employees united in a syndicate that controls around 22% of the company. The remainder is free float. The Group includes several companies active in the promotion, management and distribution of financial and insurance products, mainly based in Italy, Australia, Brazil, Chile, China (Hong Kong and Shanghai), Egypt, United Arab Emirates, Ireland, Luxembourg, Mexico, Monaco, Portugal, Singapore, Switzerland, Taiwan, Turkey and the USA. In Italy, Azimut Capital Management Sgr is active in the promotion and management of mutual funds governed by Italian law, in alternative investment funds governed by Italian law, and in the individual management of investment portfolios on behalf of third parties. In addition, Azimut Capital Management handles the distribution of Group and third-party products through its network of financial advisors, while Azimut Libera Impresa Sgr handles alternative products. The main foreign companies are Azimut Investments SA (founded in Luxembourg in 1999), which manages the AZ FUND1 and AZ Multi Asset multi-fund funds, and the Irish company Azimut Life DAC, which offers life insurance products.
Alps Blockchain is an Italian tech company with a global vision, specialising in the production of computing power for digital mining. Through the design and operation of state-of-the-art mining farms, it aims to combine the potential of blockchain and mining with the needs of the energy sector, creating shared value and fostering mutual evolution. Founded in 2018, it introduced an innovative solution to support the Italian energy sector, breathing new life into historic hydroelectric power plants through the installation of mining farms integrated with the traditional production system. Today, Alps Blockchain has extended its reach from Europe to South America and the Middle East, focusing on projects that generate scalable growth and new opportunities through computational power generation.
Contacts – Azimut Holding S.p.A.
www.azimut-group.com
Contatti – Alps Blockchain
www.alpsblockchain.com
Nicole Vuillermin
Tel. +39 335 69 72 986
Email: [email protected]
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Blockchain Press Releases
ALL INDIVIDUALS WHO PURCHASED OR ACQUIRED IMPACT THEORY FOUNDER’S KEYS BETWEEN OCTOBER 13, 2021, AND DECEMBER 6, 2021
COSTA MESA, Calif., Feb. 24, 2025 /PRNewswire/ — The following statement is being issued by Simpluris, Inc., Fund Administrator for the United States Securities and Exchange Commission, regarding the Impact Theory Fair Fund and Plan of Distribution.
NOTICE OF FAIR FUND DISTRIBUTION PLAN
In the Matter of Impact Theory, Inc.
Administrative Proceeding File No. 3-21585
For more information, visit www.ImpactTheoryFairFund.com
The United States Securities and Exchange Commission (“SEC”) has settled administrative proceedings (the “Order”) against Impact Theory (the “Respondent”). In the Order, the SEC found that from October 13, 2021, to December 6, 2021, Impact Theory violated Sections 5(a) and 5(c) of the Securities Act by offering and selling crypto asset securities known as Founder’s Keys without having a registered statement filed or in effect with the SEC or qualifying for an exemption from registration.
The SEC ordered the Respondent to pay $5,120,718.27 in disgorgement, $483,195.90 in prejudgment interest, and a $500,000.00 civil money penalty, for a total of $6,103,914.17, to the SEC. The SEC also created a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalty collected, along with the disgorgement and interest collected, could be distributed to harmed investors (the “Fair Fund”).
The Fair Fund will be paid out according to the Plan of Distribution (“Plan”).
A summary of the eligibility criteria and claims process is below. Full details are available at www.ImpactTheoryFairFund.com. You may also request a copy of the Plan from the Fund Administrator via email at [email protected] or by calling 833-285-3401.
Who is eligible to receive a payment from the Fair Fund? To receive a payment, you must have:
- purchased or acquired Founder’s Keys between October 13, 2021, and December 6, 2021;
- submitted a timely Claim Form;
- suffered a Recognized Loss as calculated under the Plan; and
- not been an Excluded Party under the Plan.
How do I submit a Claim? The easiest way to submit a claim is online at the Impact Theory Fair Fund website: www.ImpactTheoryFairFund.com. Claim Forms completed online must be submitted on or before 11:59 p.m. Eastern Standard Time on August 15, 2025.
If you are unable to submit a Claim Form online and/or you have lost relevant credentials associated with wallets and/or exchanges required as part of an online claim, you may request a copy of the paper Claim Form from the Fund Administrator via email at [email protected] or by calling 833-285-3401. You may also download a copy of the Claim Form to print at: www.ImpactTheoryFairFund.com. Claim Forms submitted via mail must be sent to the address provided on the Claim Form and postmarked (or if not sent by U.S. Mail, then received) by August 15, 2025.
The Fund Administrator will send a Determination Notice advising each claimant who timely submitted a Claim Form of their eligibility determination and will provide a calculation of Recognized Loss to those determined to be Eligible Claimants. The Fund Administrator may consider disputes of an Eligible Claimant’s Recognized Loss calculation if timely submitted in accordance with the Plan.
This notice is a summary. For more information, visit
www.ImpactTheoryFairFund.com
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Blockchain Press Releases
Fully Backed Within 72 hours: Bybit Maintains 1:1 Customer Assets Ratio in Latest Proof of Reserves Audited Report by Hacken
DUBAI, UAE, Feb. 24, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has completed a fresh round of audit on Feb. 23, 2025 conducted by leading cybersecurity firm Hacken. The independent third-party report is published after Bybit restored reserves levels to a 1:1 ratio for in-scope digital assets within 72 hours following a major incident on Friday, Feb. 21.
A full audit of all relevant wallets containing 40 asset types, by way of proof of liabilities and ownership, verified that Bybit possesses sufficient reserves to cover user assets 1:1 across the board. Key assets including BTC, ETH, SOL, USDT and USDC exceed 100% collateral ratios on Bybit. Held to high standards of transparency and prudence, Bybit reaffirms its commitment to fiscal vigilance and customer protection under all circumstances.
“Bybit fully backs all customer assets entrusted to our platform, maintaining a dynamic ratio of over 1:1,” said Ben Zhou, Co-founder and CEO of Bybit. “We are fortunate to have all-weather friends in a cut-throat industry—our peers and even competitors stood with us during challenging times, and our customers deserve the same level of commitment,” he added.
Key Highlights of Bybit’s 19th PoR Audit:
- Comprehensive Audit Process: Hacken conducted an extensive audit of Bybit’s liabilities, utilizing the Merkle tree to verify the integrity of the assets reported.
- User Address Verification: Hacken obtained information from Bybit management regarding all public key addresses holding in-scope assets and verified expected blockchain transactions to confirm control and ownership.
- Rigorous Validation Procedures: The validation process included a thorough review using the official Merkle proof validation methods, ensuring the accuracy of the reported liabilities.
“Bybit’s focus on transparency through regular Proof of Reserves audits and independent assessments sets a strong standard within the industry. We appreciate being part of this important initiative during this critical period,” said Yevheniia Broshevan, Co-Founder & CBDO at Hacken.
As of Feb. 24, Bybit fully closed the ETH gap of client assets within 72 hours. This was achieved through strategic partnerships with firms like Galaxy Digital, FalconX, and Wintermute, along with support from Bitget, MEXC and DWF Labs, who helped Bybit replenish the reserves in record time. The rapid execution of these funding strategies underscores Bybit’s robust industry relationships and its capability to maintain platform stability during challenging times, reflecting the industry’s shared vision of a new era of reliable financial system.
By prioritizing independent verification and comprehensive audits, Bybit reinforces its commitment to user trust and transparency. The exchange regularly reviews best practices, emergency responses, and security infrastructure to meet the rising challenges and demands in the digital asset industry.
Bybit’s Proof of Reserves: https://www.bybit.com/app/user/audit-report
#Bybit / #TheCryptoArk / #ProofofReserves / #PoR
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Blockchain Press Releases
Bybit Invests $1M in EthicHub Through Blockchain for Good Alliance to Drive Agricultural Finance for Global Farming Communities
DUBAI, UAE, Feb. 24, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, proudly announces a $1 million impact investment in EthicHub, facilitated through the Blockchain for Good Alliance (BGA).
Since pioneering the Blockchain for Good Alliance in April 2024, Bybit has championed the use of blockchain innovations to solve real-world challenges. EthicHub, a key project supported by the BGA Incubation Programme and the Grand Social Impact Award winner at the BGA Web3 Oscar, exemplifies this vision by leveraging blockchain to drive financial inclusion and empower smallholder farmers. This investment aligns with Bybit’s commitment to leveraging blockchain technology for tangible social impact, driving financial inclusion for smallholder coffee farmers in emerging markets.
Empowering Sustainable Coffee Farming Through Ethical Finance
EthicHub is revolutionizing agricultural finance by integrating productive lending, blended finance, and market access. With this $1 million investment, Bybit will establish the “Bybit Pool”, a dedicated fund within the EthicHub ecosystem designed to provide ethical credit lines to small and medium-sized coffee farmers.
This initiative will empower farmers to break free from exploitative lending practices, improve productivity, and secure fair prices for their coffee. Additionally, it aligns with Bybit’s broader mission of bridging the gap between blockchain solutions and real-world economic transformation.
Key Highlights of the Investment Agreement:
- Exclusive Fund: Bybit’s investment will be managed exclusively within the EthicHub ecosystem, ensuring transparency and accountability.
- Sustainable Social Impact: The fund provides direct financial access to coffee farmers, fostering economic resilience in rural communities.
- Fair Financial Returns: Bybit will receive an 8% annual return over a 15-month term, demonstrating the viability of impact investing.
- Transparency & Reporting: LendingDev, EthicHub’s operator, will provide quarterly performance updates and comprehensive end-of-term reporting.
A New Era of Blockchain-Powered Social Good
Bybit’s investment exemplifies how blockchain-powered finance can drive sustainable change. Through BGA’s role in fostering strategic collaborations, this initiative paves the way for blockchain adoption in real-world economic empowerment.
“Blockchain has the power to unlock new financial opportunities for those historically excluded from traditional banking systems. Our $1 million investment in EthicHub reinforces Bybit’s dedication to using innovation for real-world impact, proving that blockchain can be both profitable and transformative,” said Helen Liu, Chief Operating Officer at Bybit.
Gabriela Chang, CSO & Co-founder of EthicHub added: “Bybit’s commitment is a game-changer for our mission. This investment will directly support smallholder coffee farmers, enabling them to increase productivity, access fair financing, and secure better market opportunities. It is an example of how blockchain can create real-world solutions for pressing global challenges.”
Case Study: EthicHub’s Impact – How Neri Ortiz Transformed His Future
For generations, smallholder coffee farmers like Neri Ortiz in Motozintla, Mexico, faced relentless challenges: unstable coffee prices, predatory lenders, and limited market access. With no financial safety net, many were forced to abandon farming altogether.
The introduction of EthicHub changed everything. By offering fair, blockchain-powered financing, EthicHub provided Neri and his cooperative with the resources to improve production, invest in sustainable farming techniques, and eliminate exploitative middlemen. For the first time, they could sell directly to specialty coffee buyers at fair market prices.
This access to ethical lending transformed not just Neri’s farm but his entire outlook. He began experimenting with quality-enhancing techniques like controlled fermentation, which boosted the value of his coffee. With newfound financial stability, he reinvested in his farm, secured better futures for his family, and began mentoring other farmers to do the same.
Bybit’s investment in EthicHub ensures that more farmers like Neri can break free from financial hardship, build resilient livelihoods, and sustain the agricultural traditions that feed global coffee markets. This is the power of blockchain-driven impact investing—real solutions for real people, transforming entire communities.
Join the Movement
Bybit invites fellow blockchain innovators and socially responsible investors to explore the possibilities of blockchain-powered impact investments. By working together, the industry can drive sustainable economic solutions that benefit both investors and underserved communities.
For more details on EthicHub’s initiatives, visit EthicHub Website.
#Bybit / #TheCryptoArk /#BGA
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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