KuCoin cryptocurrency trade is aiming to seize 10% of the blockchain mining capability behind the world’s largest memecoin, the Dogecoin community, by means of the launch of a brand new cloud mining platform.
KuCoin trade is launching a cloud mining platform that gives retail and institutional traders entry to verifiable hashrate backed by international mining amenities with 300 megawatts (MW) to 2 gigawatts (GW) of energy assets.
The brand new platform, KuMining, will provide traders entry to Bitcoin (BTC) and Dogecoin (DOGE) hashrate and merged mining for Litecoin (LTC).
The platform is launching with a hashrate of roughly 10 exahashes per second (EH/s) and roughly 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 capability would make KuMining the fourth-largest Dogecoin mining entity, following F2Pool, ViaBTC and AntPool.
High Dogecoin miners by hashrate share. Supply: miningpoolstats.stream/dogecoin
F2Pool is at present the biggest Dogecoin miner, with 910 TH/s, which accounts for over 33.1% of the community’s identified hash charge, in accordance with information 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 information and clear achievement,” wrote KuCoin in a Wednesday announcement shared with Cointelegraph.
KuMining might equalize “alternatives in cryptocurrency mining,” mentioned Jolie Du, chief working officer of KuMining, including:
“Customers can lease real hashrate from skilled amenities, with each day yields routinely credited, eliminating {hardware} acquisition, power administration, and upkeep complexities.”
“This low-barrier method fits these in search of steady participation with out technical assets, fostering sustainable wealth,” he added.
KuMining platform: Supply KuCoin
The platform plans so as to add new water-cooled mining rigs each month to make sure customers profit from increasing mining capability.
Buying hashrate by means of the platform might be accessible starting September 16.
High cryptocurrency exchanges by buying and selling quantity. Supply: CoinMarketCap.com
KuCoin is the world’s ninth-largest cryptocurrency trade with $1.6 billion in each day spot buying and selling quantity and over 3.7 million weekly lively guests, information from CoinMarketCap.com exhibits.
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