Kucoin Cryptocurrency Exchange aims to capture 10% of the blockchain mining capabilities behind the Dogecoin network, the world’s largest memecoin, through the launch of a new cloud mining platform.
Kucoin Exchange is launching a platform that allows retail and institutional access to verifiable hashrates supported by global mining facilities with power resources ranging from 300 megawatts (MW) to 2 gigawatts (GW).
The new platform, Kumining, provides investors with access to Bitcoin (BTC) and Dogecoin (Doge) hashrates and integrates Litecoin (LTC) mining.
The platform will be available at approximately 10 exhaushes per second (EH/S) and 200 terrahash per second (TH/S) for Doge/LTC.
Controlling 10% of the mining capacity of a Dogecoin network allows you to Kuming the fourth largest Dogecoin Mining Emingity, after F2pool, VIABTC and ANTPOOL.
According to data from MiningPoolStats.Stream, F2Pool is currently the largest Dogecoin Miner at 910 Th/s, accounting for more than 33.1% of known hashrates at 910 Th/s.
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Kumining aims to “distribute” hashrates from “institutional management.”
The initiative aims to “decentralize hashrates away from institutional management through the fulfillment of auditable data and transparency.”
Kumining may equal “cryptocurrency mining opportunities,” added Jolie Du, Kumining’s Chief Operating Officer, adding:
“Users can rent authentic hashrates from specialized facilities. Daily yields are automatically credited, eliminating the complexity of hardware acquisition, energy management and maintenance.”
“This low-barrier approach is suitable for those seeking stable participation without technical resources and will nurture sustainable wealth,” he added.
The platform plans to add new water-cooled mine rigs each month to help users benefit from expanding their mining capabilities.
Hashrate purchases via the platform will be available from September 16th.
Kucoin is the world’s ninth largest cryptocurrency exchange with $1.6 billion in spot trading volumes of $1.6 billion each day, with over 3.7 million active visitors a week, Coinmarketcap.com data shows.
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