Christian Faes, who ran London-based fintech firm LendInvest for over a decade, has corralled tens of millions of dollars for a new crypto mining venture.
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. “There’s a lot of investor interest in this, I’m definitely holding back capital at this stage,” says Faes.Faes set up property lending platform LendInvest in 2008 and ran it as CEO until January 2020, when he took the role of executive chair. In July of last year, the companyon AIM, a sub-market of the London Stock Exchange, at a valuation of £255.6 million. It has lent more than £4 billion to property developers and landlords in the United Kingdom, according to its website.
Building out what he calls a pilot version of the business has not been straightforward, however. Competition for the latest mining machines and for rack space within colocation sites is high. “There’s a lot of shysters in the sector,” says Faes.
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