Binance, the world's largest cryptocurrency exchange, has been taking innovative steps while dealing with the lawsuit filed by the SEC in recent weeks.
In this context, Binance announced that it has launched new cloud mining products for investors.
Binance stated that as of June 15, today, users who are interested in Bitcoin mining but do not have the hardware can subscribe to cloud mining services and buy hash rates for it.
“Binance is launching a new line of Cloud Mining products for Bitcoin mining.
Users can now complete their subscription to Cloud Mining products to purchase hashrate and start accumulating mining rewards in their Funding Wallets.
Subscription start time is 15.06. While 2023 is set as 02:00 UTC, the estimated mining start time is determined as 04:00 UTC on 22.06.2023."
Binance currently sells 1 Terahash per second (Th/s) at $10,7280, which is split between hashrate and electricity costs of $1.17 and $9,558, respectively.
Binance's BTC mining subscription service will be active for 180 days, or about six months. Users will be able to earn 0.0004338 BTC during the active period for each TH/s purchased.
*Not investment advice