Binance, the largest cryptocurrency exchange in the world, has announced the launch of new Bitcoin cloud mining products, available from June 22, 2023.
Announcement of Cloud Mining
According to the official announcement on the company's website, users will be able to subscribe to cloud mining services on a first-come, first-served basis starting June 15, 2023. This will allow them to access hash power without the need to acquire and maintain physical mining equipment.
Benefits of Cloud Mining
The new products will enable Binance clients to purchase hashrate contracts and start receiving BTC mining rewards, which will be instantly deposited into their wallets. The program aims to provide an easier entry into Bitcoin mining for those who cannot afford or lack the technical knowledge to set up and manage conventional mining rigs.
Binance's Market Position
Binance's capabilities in the Bitcoin space are impressive, with over 60,000 BTC in unrealized profit, amounting to over $6 billion, and more than 275 million users. With a 25.4% share of the spot market and strategic expansion, Binance firmly holds its position as a leader in the crypto industry.
The launch of BTC cloud mining on Binance's platform reflects the company’s strategy of expanding its crypto infrastructure and providing convenient solutions for miners.
