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Bit Digital intends to utilize Auros' suite of derivatives offerings to provide both hedging and yield opportunities for a portion of its digital asset holdings.
March 24, 2023 - Bit Digital, a digital asset mining company announced a strategic investment in Auros Global Limited a crypto-native algorithmic trading and market making firm.
This investment aims to advance Bit Digital's goal to maximize risk-adjusted returns of its digital assets, while protecting its business against operational and treasury risks to ensure healthy and consistent cash flows.
"Digital asset miners and validators play a crucial role in securing blockchains, processing transactions and growing the overall ecosystem. Auros' Derivatives Solutions offering delivers a full-suite of treasury and risk management solutions for miners and validators. These solutions provide large-scale players such as Bit Digital with the necessary tools to guard against market volatility and downside risks, while also maximizing yield opportunities on idle assets and future production output. We are thrilled to partner with Bit Digital on this journey, and we look forward to delivering bespoke solutions that are tailored to their unique needs," says Ben Roth, Co-Founder and Chief Investments Officer of Auros.
Samir Tabar, Chief Strategy Officer of Bit Digital commented: "Bit Digital's investment in Auros underscores our confidence in the firm's robust infrastructure and its ability to complement our core business. Through unique yield generation opportunities and bespoke hedging solutions, Auros is able to provide sophisticated support to Bit Digital whilst also working to bring much needed liquidity and market making capabilities to the industry. This is key to fostering a healthy and dynamic digital assets ecosystem. The team's deep derivatives background and expertise across technology and finance also bring the necessary capabilities to cater to our growing business needs. We are excited to have Auros as a strategic, institutional-quality partner and unlock more synergies together,"
