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SBI Launches Bitcoin Mining Pool Services for Public

SBI Launches Bitcoin Mining Pool Services for Public
Image by Peggy und Marco Lachmann-Anke from Pixabay

The wholly-owned subsidiary of Japan’s SBI Holdings, SBI Crypto, has opened its Bitcoin mining pool for the public. SBI Crypto announced public participation in its mining business following a soft launch in private placements previously this year. The decision implies that the institutions and individuals witnessing to mine Bitcoin and other cryptocurrencies can enter the SBI Crypto Pool service. SBI is a significant Asian company with a substantial share in the crypto industry, from exchange services to lending.

SBI Crypto mining pool recently produces a hash rate of 1.82 EH/s with 1.16% of the BTC mining industry. It contends with giants such as Poolin, F2Pool and Binance, and is exploding its services scale. As one of the outcomes of a strategic collaboration between SBI and the German tech firm Northern Data AG, the pool reportedly ranks 11th globally. This is per SBI’s announcement on March 19. It mines three assets, Bitcoin (BTC), Bitcoin Cash (BCH) and Bitcoin SV (BSV), with the capital measured in dollars per terahash per day. It is $0.3897, $0.3805 and $0.3519, sequentially. 

SBI Mining Pool seems to be the second leading pool accessible for public

Although SBI only allows new mining accounts on requests, it will open signups without demanding an account will be available, with Mandarin, English, and Japanese services. Moreover, the SBI pool seems to be the second popular pool to open for the public following Digital Currency Group’s Foundry. After months of working its pool in private beta mode, Foundry last week started its public service.

SBI Holdings’ various cryptocurrency ventures through several subsidiaries have involved injecting a Bitcoin lending service. It occurred via its crypto investment subsidiary SBI VC Trade and takeover of crypto exchange TaoTao through its foreign exchange and derivatives arm. In December 2020, SBI declared a joint crypto-based project with Switzerland’s principal stock exchange, SIX Swiss Exchange. Moreover, it recently mentioned further crypto-related ventures in association with foreign financial firms soon.

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