Seychelles-based Crypto Exchange KuCoin launches a mining pool designed to generate revenue for certified miners after integrating their devices.
In a statement issued on Wednesday, the exchange said the cocaine pool product will allow miners around the world to contribute to Bitcoin (BTC) and Bitcoin Cash (BCH) and share prizes. Miners are currently being asked to install and operate the necessary hardware to join the pool, but said Cocoin will introduce the mine in the cloud in the future.
Cocoin CEO Johnny Liu says the pool encourages them to participate in environmentally friendly solutions: People who use renewable energy sources get discounts on fees. The move seems to have begun to shift to clean or renewable energy in many mining companies.
“It will be a direct source of revenue for existing cocoa users,” Liu said. “Miners can benefit from a one-stop mining platform and its features to get up and run faster.
The exchange is slowing down compared to big companies such as Binance, which opened the mine in April 2020. According to blockchain data, some of the largest BTC miners are Antelpel – owned by China’s mining giant Bitmain – ool line, ViaBTC, and F2Pool.
Related: Are KuCoin shares overvalued after KCS price is 100% in one month?
A.D. Cocoa, which was launched in 2017, grew by 1,114% last week, reaching 10 million users this week. Last year, hackers stole an estimated $ 275 million from Cocaine before recovering most of the money.