Christian Faes, co-founder and executive chair of London-listed fintech firm LendInvest, has quietly set up a crypto mining operation into which he and a small group of investors have poured tens of millions of dollars.
Faes told The Block that the business will be based in Texas, where the Australia-born entrepreneur hopes to build a mining facility powered by renewable energy sources.
He already has machines up and running at colocation data centres in Pennsylvania and Tennessee, but declined to disclose the size of the operation in terms of energy output or crypto mined.
The venture is being run out of Faes & Co., an investment firm through which he also manages his angel investing activities.
Faes says he has a partner running operations in the United States and is looking to hire people to grow the business. He and a group of half a dozen investors have poured tens of millions of dollars into the venture, he says, without giving an exact figure. The money has been spent on
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