Binance, the largest cryptocurrency exchange in the world, has now revealed a series of new Bitcoin (BTC) cloud mining products. Those willing to use the offered cloud mining service will be able to subscribe to the service on a first-come, first-served basis starting June 15, 2023, at 02:00 (UTC), through which they will be able to access hash power without having to acquire and maintain any physical mining equipment.
The announcement was made on the company’s official website. The new products will enable Binance clients to buy hashrate contracts and start getting rewards of BTC mining which will be immediately deposited in their Funding Wallets. The new cloud mining product is to commence on June 22 at 04:00 (UTC).
The program is aimed at offering a convenient way of entry into Bitcoin mining to individuals who cannot afford or have technical knowledge to establish and manage conventional mining rigs. Managing the logistical aspect of the operations, Binance reduces the cost of admission and further expands into the provision of crypto infrastructure.
Binance’s dominance in the Bitcoin space is unmistakable. With over 60,000 $BTC in unrealized profits—valued at more than $6 billion—and a user base exceeding 275 million, the exchange stands as a symbol of unmatched scale and stability.
Holding a 25.4% share of the spot market and continuing its strategic global expansion, Binance has firmly established itself as a crypto powerhouse. The recent launch of its Bitcoin cloud mining service marks yet another move to reinforce its long-term influence and leadership in the industry.
