Blockchain startup Bitfury has declined to accept offer from investors to purchase mined cryptocurrency in bulk, after the company and other miners received the offer, as reported by newsBTC.

With the increase in prices of digital currency recently, investors are seeking for ways to buy bitcoins through more sources. Few have directly approached miners to source the cryptocurrency in bulk instead of going bitcoin exchanges. Bitfury recently received such request along with other mining companies that was exhibited by the company’s Vice Chairman George Kikvadze on Twitter.
 

The key reason for investors to approach miners directly is that the freshly minted bitcoin available with miners is more valuable than the cryptocurrency that is already in circulation. Few investors and Assets Under Management (AUM) funds are looking for ways to strike a deal with Bitfury and other miners to buy Bitcoin in bulk at price much cheaper than the open market. They have approached few mining pools, but have failed to convince Bitfury to sell fresh bitcoins to them.

Another reason for investors to approach miners is that they generally require a large amount of cryptocurrencies that is almost impossible for them to procure from the exchange platforms as they have a maximum limit to trade, buy or sell the cryptocurrency.