A Russian power firm has recently made headlines by launching the nation’s very first bitcoin mining-related closed-end mutual investment fund (CEF). The fund, known as Crypto Factory, is a collaborative effort between the Penza-based gas power unit provider Power Systems and the financial management firm Finam.
According to a report by the Russian newspaper Vedomosti, only qualified investors will have access to the fund. Investors’ funds will be utilized to power BTC mining rigs on farms that utilize natural gas. The Bitcoin mined will then be sold by the fund’s operators, who will provide regular payouts to the investors.
In the realm of finance, CEFs typically refer to investment funds that issue a fixed number of shares only once, typically during an initial offering. Unlike traditional open-ended funds, CEF shares are traded on a stock exchange, similar to individual stocks. Power Systems has stated that investors will receive analytics data and access to CCTV camera feeds monitoring the mining farms’ operations.
The fund has a term of five years and an initial capital of 850 million rubles (approximately $11 million). Potential investors are required to invest a minimum of 5 million rubles ($63,719) into the fund. Power Systems has outlined a basic financial model projecting a return of 49% per annum, with promised interim payments of 10% per year on a quarterly basis.
Finam, the financial management firm involved in the fund, has confirmed that the shares will not be available on secondary markets. They have also disclosed that their commission fee will be 1% of the average annual value of the fund’s net assets.
A Power Systems executive has mentioned that the fund will break even if Bitcoin prices do not drop below $35,000 over the next five years. As long as Bitcoin prices remain above this threshold, investors can expect to profit from their investments. The exact cost of mining BTC in Russia remains uncertain, with varying power prices across regions.
Moscow has shown a growing bullish stance towards Bitcoin in 2025, as evidenced by recent regulatory changes allowing qualified investors access to crypto financial products. Power Systems, known for its focus on gas-powered crypto mining operations, has highlighted the advantages of mining BTC at gas fields, emphasizing cost reduction and environmental benefits.
With the launch of the Bitcoin mining mutual investment fund, Power Systems has taken a significant step towards expanding its presence in the cryptocurrency market. The fund’s innovative approach to leveraging natural gas for mining operations underscores the company’s commitment to sustainability and efficiency in the crypto mining sector.