Relm Insurance Introduces BTC-Denominated Policy for Bitcoin Miners

Bermuda-registered Relm Insurance has introduced a policy covering bitcoin miners' for periods of business interruption. BTC Business Interruption Insurance is denominated in bitcoin, the first such policy to do so, according to an emailed announcement on Thursday. The aim of the policy is to offer bitcoin miners with financial protection against losses from operational interruptions caused by physical damage to equipment or facilities. Bitcoin mining companies have faced headwinds in recent months relating to the block reward for producing new BTC being halved and bitcoin's price being restrained by selling pressure and various geopolitical factors.

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