Binance, a crypto exchange, introduced a new subscription-based could mining product for Bitcoin (BTC $25,011) mining, stated Cointelegraph.
Sources revealed that on June 15, 2023, users who are interested in Bitcoin mining but do not have the equipment can subscribe to Binance’s cloud mining services and purchase hashrates for Bitcoin mining. Supposedly, Hashrate is the computing power required for confirming and legalising Bitcoin exchange over the blockchain, Cointelegraph added.
According to Cointelegraph, the subscription services of Binance’s BTC mining will be available for 180 days, or a maximum of six months. It is believed that for each TH/s purchased, users may earn about 0.0004338 BTC during the validity period.
It is expected that Binance’s launched this service only for their global website and will not be available for crypto investors residing in the United States. Furthermore, “Binance.com is a separate entity and our users will not be impacted by issues at Binance.US,” Binance told Cointelegraph.
(With insights from Cointelegraph)