SBI Holdings is known to have always pushed for wider coverage and acceptance of cryptocurrency. The crypto affiliate of the company, SBI Crypto Co., Ltd. revealed that it has now made its mining pool public.
SBI Announces Access to its Bitcoin Mining Pool
The announcement from the crypto firm means that anyone interested in Bitcoin mining can join the SBI Crypto pool service. This is not just limited to Bitcoin but other cryptocurrencies as well. Although many of the features are targeted at Institutional investors, however, individual investors can also benefit from the pool.
The company’s Bitcoin mining pool is ranked 11th, with a hashrate of 2.44EH/s. This latest update from the firm is bound to attract more people to Bitcoin mining
The company revealed that the pool was audited by Silent Breach, a cyber-security agency. SBI Crypto said it will direct about 1.1ETH/s of its mining power to support the pool and make it more stable. After Foundry, the company has become the second to make its mining pool accessible to the public.
The firm revealed that the pool was created while collaborating with Northern Data AG to aid datacenter management services. When the partnership was announced by SBI Crypto back in 2020, it bought into the shares of the company.
Bitcoin Mining Activities Expected to Keep Growing
According to a March 15 report by Glassnode, Bitcoin miners made a cumulative profit of $52.3 million (ATH) within a day. This comes after a block subsidy halving in May 2020. Since Miner profits are paid in fiat currency, the firm revealed it is good for the security of the Bitcoin protocol.
It appears there is nothing that can stop Bitcoin as there are indications that the price may later rise to new ATHs. Moves from companies like SBI, who are pushing the frontiers of crypto investments, will improve the acceptance of Bitcoin.