Binance, the largest cryptocurrency exchange in the world, has now unveiled a range of new Bitcoin (BTC) cloud mining products. Those wishing to use the offered cloud mining service will be able to register on a first-come, first-served basis starting June 15, 2023, at 02:00 (UTC), allowing them to access hashing power without having to purchase and maintain any physical mining equipment.
The announcement is made on the company's official website. The new products will allow Binance customers to purchase hashrate contracts and begin receiving BTC mining rewards that will be sent directly to their funding wallet. The new cloud mining products will start on June 22 at 04:00 (UTC).
This program aims to provide a convenient way for individuals who lack the ability or technical knowledge to set up and manage traditional mining rigs to participate in Bitcoin mining. By managing the logistical aspects of the operation, Binance reduces the cost of participation and further expands into providing cryptocurrency infrastructure.
Binance's dominance is clearly evident in the Bitcoin space. With over 60,000 BTC in unrealized profits, equivalent to over $6 billion and a user base of more than 275 million, this exchange is an example of unprecedented scale and stability.
With a 25.4% share of the spot market and strategic expansion, Binance has become an undeniable cryptocurrency giant, making the recent launch of BTC mining on its cloud platform another step to affirm that unshakeable power in the long term.
