Forbes takes a critical look at cryptocurrency/block chain guru Joe Lubin, whose ConsenSys company purchased asteroid mining company Planetary Resources. (Although given the headline, critical seems polite: Cryptopia In Crisis: Joe Lubin’s Ethereum Experiment Is A Mess. How Long Will He Prop It Up?)
So, how does asteroid mining fit into Lubin’s master plan?
Lubin insists ConsenSys is getting more selective in picking projects. But old habits die hard. In October it bought a nine-year-old asteroid-mining company called Planetary Resources. “We see it as a group of amazingly capable people who are interested in exploring how blockchain could ramify on space operations,” Lubin says abstrusely.
The government of Luxembourg’s investment in asteroid miner turned block chainer Planetary Resources is over, the Luxembourg Times reports.
The Luxembourg government sold its 10% stake in US space firm Planetary Resources ahead of its takeover by blockchain venture ConsenSys.
ConsenSys announced on Wednesday it had acquired Planetary Resources through an asset-purchase transaction.
The Luxembourg government first took a stake in the company in 2016, when the Economy Ministry signed a memorandum of understanding and agreed to invest €25 million.
The Luxembourg government has also invested in Planetary Resources’ rival, Deep Space Industries.
NEW YORK (ConsenSys PR) — Blockchain venture production studio ConsenSys, Inc. has acquired the pioneering space company Planetary Resources, Inc. through an asset-purchase transaction. Planetary Resources’ President & CEO Chris Lewicki and General Counsel Brian Israel have joined ConsenSys in connection with the acquisition.