Cryptocurrency exchange Binance aims to help the struggling mining industry by launching its cloud mining product next month.
The fact that Bitcoin has been at the level of $ 20,000 for a long time has made it difficult for Bitcoin miners.
Binance Will Help the Mining Industry
The crisis in the cryptocurrency market continues to affect Bitcoin miners extremely negatively. Binance is preparing to launch its cloud mining product in such an environment.
Binance Pool announced last week that it will offer a $500 million loan fund for Bitcoin miners. In addition, the company announced that it will enter cloud mining for crypto miners who cannot buy and operate their own equipment.
A spokesperson for the cryptocurrency exchange announced in an email to CoinDesk that the launch of the company’s cloud mining service will take place in November.
“As one of the best mining pools in the world, Binance Pool will not only operate as a mining pool, but also take on the responsibility of contributing to building a healthy industry, especially in a time of uncertain market conditions.”
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