Japan's financial giant SBI Holdings has announced the launch and opening of its new Bitcoin mining services, while in Canada, a group of companies are building a mining pool that runs on alternative energy sources, such as wind and solar.
In a recent tweet, the financial company SBI Holdings, one of the most important in Japan, announced the opening of its services to the public SBI Crypto Pool, a Bitcoin mining pool dedicated to providing services to both individuals and businesses. SBI Crypto Pool had a limited launch earlier this year, but now its services are available to anyone who wants to participate in this industry.
Japan's financial giant he highlighted that the new mining pool has facilities that provide it with 1,1 EH/s of power on the Bitcoin network (BTC), which will serve to support and provide stability to the pool in its initial stage. With this hash power, SBI Crypto Pool is currently ranked 11th among the largest mining pools, as noted in the SBI Holdings statement. Also, in order to attract a significant number of users, the financial group announced that those who register within SBI Crypto Pool before May 15 will not have to pay commission fees for the services offered by the pool.
“With 0% mining fees for anyone who registers before May 15th!”
SBI Holdings has been interested in the crypto industry for some years now. At the end of 2020, it acquired the company B2C2, with which it plans to open a trading desk for cryptocurrencies, and digital assets; the first crypto trading desk ever created in the world. The company also has plans to extend these new cryptocurrency services to millions of users globally.
The Japanese financial giant said it has been mining bitcoins since 2017, through foreign mining pools.
It may interest you: SBI Financial Services buys B2C2 and launches digital asset trading desk
$1,36 billion in profits
The Bitcoin mining industry is one of the most profitable within the crypto space. In the month of February alone, bitcoin miners made profits of more than 1,36 one billion dollars, surpassing the record seen in December 2017, when the ICO and cryptocurrency boom exploded. At that time, BTC mining distributed profits of 1,26 billion dollars among its participants; although in the following months, due to the fall in the price of this cryptocurrency, mining profits were considerably reduced.
However, since the new bullish rally that Bitcoin marked at the end of 2020, and which has raised the price of the cryptocurrency above $61.000, BTC mining has once again become a fairly profitable activity. So far this month, bitcoin mining has yielded profits in the order of 1,05 one billion dollars.
The great profitability that this industry is offering is attracting the attention of thousands of users around the world, who do not want to miss the opportunity to participate in this industry.
On the other hand, several cryptocurrency mining companies are looking for alternatives that help mitigate the environmental impact of this lucrative activity, as well as ways to optimize their profits by using renewable and cheaper alternative energy sources than those from traditional sources.
A green future for bitcoin mining
The companies Neptune Digital Assets, which is listed on the stock exchange, and Link Global Technologies they signed a agreement mutual to build and develop a Bitcoin mining facility, which will be largely powered by green energy.
The new mining pool will make use of wind, solar and natural gas energy to run its ASIC equipment. As Neptune's CEO stated, Cale Moodie, the vision with this new pool is to encourage and push for the development of sustainable Bitcoin mining operations around the world, using low-cost, renewable and green energy sources. For its part, Stephen Jenkins, Link's chairman and CEO, noted that both his company and Neptune are committed to gradually reducing the impacts of Bitcoin mining on the world.
“We are determined to prove that the future of digital currency mining can be green. We see this as the start of expanding our footprint into renewable energy projects for digital currency mining.”
The new mining farm facilities will be located in the province of Alberta, Canada, where Link Global maintains most of its mining facilities. The new pool will have a energy capacity of 5MW, the companies reported. The companies also revealed that on March 4 they acquired 1.500 ASIC mining machines, which will be operated from Neptune Digital's facilities.
Canada, innovation to optimize Bitcoin mining
This is not the first time that mining companies in Canada, or Bitcoin enthusiasts, have come up with new ways to mine the cryptocurrency in a planet-friendly way, trying to make the most of the available resources.
Recently, this medium reported about the initiative of the local musician, Pirre-Philippe Cote, who set up a mini Bitcoin farm with 75 ASIC devices to replace the heating needs of a church in Canada. The heat generated by the cryptocurrency mining equipment is being used to heat the church, while the country's low winter temperatures eliminate the need for cooling the equipment during the cold season.
The renewed interest in Bitcoin mining makes the network the most powerful and robust in the world. Currently, the mining rate is hash rate Bitcoin is trading above 157,6 EH/s. At press time, the cryptocurrency is trading on the markets at a value of $59.380.
Continue reading: Wall Street Investors Are Interested in How Bitcoins Are Mined
