KuCoin cryptocurrency alternate is aiming to seize 10% of the blockchain mining capacity behind the world’s largest memecoin, the Dogecoin community, via the launch of a new cloud mining platform.
KuCoin alternate is launching a platform that provides retail and institutional buyers entry to verifiable hashrate backed by international mining amenities with 300 megawatts (MW) to 2 gigawatts (GW) of energy sources.
The new platform, KuMining, will provide buyers entry to Bitcoin (BTC) and Dogecoin (DOGE) hashrate and merged mining for Litecoin (LTC).
The platform is launching with a hashrate of about 10 exahashes per second (EH/s) and 200 terahashes per second (TH/s) for DOGE/LTC, which represents 10% of the Dogecoin community’s mining energy.
Controlling 10% of the Dogecoin community’s mining capacity would make KuMining the fourth-largest Dogecoin mining entity, following F2Pool, ViaBTC and AntPool.
F2Pool is at the moment the most important Dogecoin miner, with 910 TH/s, which accounts for over 33.1% of the community’s identified hashrate, in accordance with knowledge from miningpoolstats.stream.
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KuMining goals to “decentralize” the hashrate from “institutional management”
The initiative goals to “decentralize the hashrate away from institutional management, with auditable knowledge and clear success,” wrote KuCoin in a Wednesday announcement shared with Cointelegraph.
KuMining could equalize “alternatives in cryptocurrency mining,” mentioned Jolie Du, chief working officer of KuMining, including:
“Customers can hire real hashrate from skilled amenities, with every day yields robotically credited, eliminating {hardware} acquisition, power administration, and upkeep complexities.”
“This low-barrier method fits these looking for steady participation with out technical sources, fostering sustainable wealth,” he added.
The platform plans so as to add new water-cooled mining rigs month-to-month to make sure customers profit from increasing mining capacity.
Buying hashrate via the platform will probably be accessible starting Sept. 16.
KuCoin is the world’s ninth-largest cryptocurrency alternate with $1.6 billion in every day spot buying and selling quantity and over 3.7 million weekly lively guests, data from CoinMarketCap.com reveals.
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