• Binance, the world’s largest cryptocurrency exchange, has launched new subscription-based cloud mining products for Bitcoin.
• The hashrate for sale is 1 Terahash per second (Th/s) at $10.7280.
• This development comes despite Binance currently facing regulatory pressure in the United States.
Binance Introduces Bitcoin Mining Cloud Services
Binance, the world’s largest cryptocurrency exchange by daily trading volume, has launched new subscription-based cloud mining products for Bitcoin. Starting today, June 15th, users interested in Bitcoin mining but who don’t have the hardware can now subscribe to Binance’s cloud mining services and purchase hashrates.
Hashrate on Sale
The hashrate being sold by Binance is 1 Terahash per second (Th/s) at $10.7280. As a user purchases more hashrate, their probability of earning higher income in terms of Bitcoin increases as well. The product is active for six months and each TH/s purchased will allow users to earn 0.0004338 BTC during that 180-day period.
Regulatory Pressure Facing Binance
This development comes despite Binance currently facing regulatory pressure in the United States from the SEC (Securities and Exchange Commission). Earlier this month, the SEC sued Binance for allegedly breaking securities laws and also filed a temporary restraining order to freeze its assets in the US market – Binance US hired former SEC enforcement co-director George Canellos as part of its legal team as it defends itself against these allegations. Last week, Binance US announced it was suspending USD deposits on its platform as it transitions into an all-crypto exchange. Similarly, Coinbase was sued by SEC for failure to register as a broker or clearing agency among other violations of securities law recently too.
Conclusion
Despite facing regulatory pressure from authorities in the US market such as the Securities and Exchange Commission (SEC), Biance still introduces its subscription based cloud mining services with 1 TH/S offered at $10 USD today June 15th which allows users to earn up to 0 .0004338 BTC over a 6 month period .