Binance Introduces Bitcoin Mining Subscription Services
Summary: Binance, a cryptocurrency exchange, has introduced Bitcoin mining subscription services. Users can buy hashrates for $10.7280 and make 0.0004338 BTC for every TH/s they spend. The service is valid for 180 days and users may make 0.0004338 BTC for every TH/s they spend.
Binance, a cryptocurrency exchange, has introduced Bitcoin mining subscription services. Users who are interested in Bitcoin mining but do not have the necessary hardware may now subscribe to Binance’s cloud mining services and buy hashrates beginning on June 15. The term “hashrate” refers to the processing power required for validating Bitcoin transactions on the blockchain.
Finally a Reliable Mining Subscription
At the moment, Binance is offering 1 Terahash per second (Th/s) for $10.7280, with the hashrate costing $1.17 and the power costing $9.558. It’s more likely that one will make more Bitcoin from mining if their hashrate is greater.
A subscription to Binance’s Bitcoin mining service will be valid for 180 days, or around six months. Users may make 0.0004338 BTC for every TH/s they spend within the period. For a long time, investors had to deal with new startups claiming to offer reliable bitcoin subscription services with little to no reliablity, But with entry of Binance, investors can be at peace.
Binance U.S Customers Excluded
Since the launch is occurring on Binance’s international website, U.S. crypto investors will be unable to use the service. Binance previously told that “Binance.com is a separate entity and our users will not be affected by issues at Binance.US” in reference to the current SEC crackdown in the United States.
Getting Ready for Fierce Battle
Binance plans to defend itself against the SEC’s accusations. US’s legal team now includes George Canellos, formerly the SEC’s co-director of enforcement.
Binance getting ready for a criminal prosecution and going all out to recruit the best defense attorneys in the world, tweeted former SEC internet enforcement head John Reed Stark in response to the rumored development.
Binance’s US division came under attention when the SEC made allegations that it was acting as an unregistered exchange, broker, and clearing agency. In response to the SEC’s efforts, Binance.US said on June 9 that it will stop accepting deposits in U.S. dollars and could stop accepting fiat withdrawals as early as June 13.