- A higher hashrate increases a miner’s chances of successfully mining Bitcoins.
- U.S. crypto investors will be excluded from the launch.
Crypto exchange Binance now offers Bitcoin mining subscription services. For those who want to mine Bitcoin but don’t have the gear, Binance’s cloud mining services are now available for the purchase of hashrates as of June 15. The “hashrate” is the computational capacity needed to verify Bitcoin transactions on the distributed ledger.
Binance now sells 1 Th/s for $10.7280, which includes $1.17 for the hashrate and $9.558 for the electricity. Furthermore, a higher hashrate increases a miner’s chances of successfully mining Bitcoins. Moreover, Bitcoin miners that sign up with Binance will have access to their service for a full 180 days, or around six months. For every TH/s spent throughout the time, users have the opportunity to earn 0.0004338 BTC.
Ongoing SEC Tussle
U.S. crypto investors will be excluded from the launch since it will take place on Binance’s global website. When asked about the ongoing SEC crackdown in the United States, Binance previously said that Binance.com is a distinct entity and its consumers will not be affected by challenges at Binance.US.
Moreover, Binance will be fighting back against the SEC’s allegations. Former SEC enforcement official George Canellos has joined the United States legal team.
In light of this supposed turn of events, former SEC internet enforcement chief John Reed Stark tweeted that the exchange is getting ready for criminal prosecution and hiring the best for the same.
The SEC accused Binance’s US operation of operating as an unlicensed exchange, broker, and clearing agency, drawing attention to the matter. Binance.US said on June 9 that it will cease taking U.S. dollar deposits and would stop allowing fiat withdrawals as early as June 13. This was in reaction to the SEC’s efforts.
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