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: n.vuillermin@alpsblockchain.com
Photo -
https://mma.prnewswire.com/media/2470653/Azimut_Holding_SpA_Alps_Blockchain_SpA.jpg
Logo - https://mma.prnewswire.com/media/2470651/ALPS_Logo.jpg
View original
content:https://www.prnewswire.co.uk/news-releases/azimut-strengthens-its-support-for-the-excellence-of-the-italian-alps-blockchain-with-a-new-105-million-club-deal-302208561.html