Azimut has fortified its partnership with Alps Blockchain by investing €105 million, setting the stage for international growth and sustainable energy development.
This move underscores Azimut’s confidence in Alps Blockchain’s ability to lead in computational power production and digital mining innovation.
Paving the Way for International Growth
Azimut’s recent €105M investment in Alps Blockchain marks a significant step towards global expansion. This swift financial commitment was executed in merely two days, showcasing robust investor confidence. The investment tool used was Azimut Direct Investment Alps Blockchain II SCSp, a Luxembourg-based entity, targeting a five-year guaranteed bond with early redemption options for Alps Blockchain.
Leading the Energy Transition
Founded in 2018, Alps Blockchain has swiftly become a major player in the blockchain industry. The company has focused on incorporating mining farms into the energy sector, effectively enhancing technological development. Over recent years, the number of mining machines has increased from 2,500 to more than 15,000, reaching an energy capacity of 50 MW and producing over 2 EH/s of computing power as of June 2024.
Financially, the company’s growth is illustrated by its revenues, which soared from €697,000 in 2020 to €17.3M in 2022. With Azimut’s support, revenues skyrocketed to €43.6M in 2023, demonstrating a remarkable 140% increase over the previous year.
Strategic Global Expansion
The injection of new funds is poised to propel Alps Blockchain’s global and strategic growth initiative. The company aims to solidify its operations while exploring untapped markets, particularly in North America.
Alps Blockchain, already a key player in sustainable energy solutions, operates mining operations in Paraguay and Ecuador leveraging hydroelectric power. These initiatives are complemented by the company’s advanced mining establishment in Oman, situated in the Green Data City tech hub.
Future expansions are predominantly planned for North America. Giorgio Medda, CEO of Azimut, has expressed his optimism, emphasising the alignment of this venture with Azimut’s commitment to sustainable energy transitions through creative investments.
Innovative and Sustainable Commitment
Alps Blockchain’s CEO Francesco Buffa has reiterated the company’s dedication to merging technology with the energy sector. This strategic approach is intended to generate positive impacts across both domains.
Francesca Failoni, CFO, highlighted that this financial boost will enhance Alps Blockchain’s contributions to the blockchain ecosystem, allowing significant investment in existing facilities and the potential development of new ones. The endeavour to quadruple computing power by early 2025 stands as a testament to their ambitious goals.
About Azimut and Alps Blockchain
Azimut stands as a giant in asset and wealth management, investment banking, and fintech, extending its services globally. Listed on the Milan Stock Exchange, the group has a strong presence in Italy and operations in eighteen countries, with a focus on emerging markets.
Founded in 2018, Alps Blockchain specialises in computational power for digital mining, integrating mining farms with hydroelectric plants. The company is expanding from Europe into South America and the Middle East, spearheading growth through innovative blockchain projects.
The Road Ahead for Blockchain Technology
With substantial financial backing, Alps Blockchain is well-positioned to lead advancements in blockchain technology. This journey entails not only technological upgrades but also a profound commitment to sustainability.
The focus remains on harnessing renewable energy sources to power mining operations, thus ensuring an eco-friendly approach to blockchain’s future evolution.
Azimut’s strategic investment in Alps Blockchain is poised to catalyse growth and innovation, setting a benchmark for sustainable energy solutions in blockchain technology.
The collaboration demonstrates a forward-thinking approach, with eyes set on expanding capabilities and market reach globally.
