GSR – the liquidity solutions and digital asset market making firm – has reportedly teamed up with Interhash, in an attempt to roll out Bitcoin miners-focused risk management tools.
Specifically, GSR has forged a partnership with Interhash – a mining services provider and strategic associates of mining rig designing company Canaan – to introduce numerous blockchain-powered tools, based on the network from Canaan, to offer enhanced protection for miners to battle against losses, as well as earn yield on inventory.
GSR is planning to make a customized series of new solutions available, nominally swaps, collars, and more particularly structured instruments, starting next year.
These tools are able to guard against volatile elements in the market, such as Bitcoin price, troubles with mining, electricity and equipment costs.
“The cryptocurrency industry is more volatile than any other business area, and many participants in the ecosystem are under-hedged or outright un-hedged against adverse price action. Miners are a foundational component of the digital asset space, and have to consider many volatile factors when planning their future revenue streams.” Cristian Gil, who founded GSR, provided further explanation.
“We believe risk management will play an integral role in this industry as it matures. We are proud to partner with GSR who have substantial financial expertise in this area and a proven track record in crypto finance.” Cora Jiang, Global Head of Marketing for Interhash, further remarked regarding the announcement.