Binance Launches a Cloud Service to Mine BTC

Binance Pool has launched Cloud Mining, which will allow users to purchase hashrate and mine Bitcoin in the cloud.

The platform has also announced the zero management fee for registrants during the first month till December 22. According to the tariffs, it is 1.5%. The service also charges a 2.5% commission on mining rewards.

The announcement made on the site says:

“With Cloud Mining, you can completely forget about the equipment, as well as finding and renting sites for mining farms. Entrust operation and maintenance to your reliable partner.”

Binance announced the launch of cloud mining products for Bitcoin in October. At the same time, the exchange announced the creation of a $500 million fund to provide debt financing to struggling miners.

The exchange pool has now become a competitor to Bitdeer, which became the property of Jihan Wu in January last year as part of the compensation for leaving Bitmain.