Crypto Miners is now able to take advantage of Bitcoin-assisted loans through their partnership with M2 and NiceHash.
Abu Dhabi-based cryptocurrency Exchange M2 is partnering with cryptocurrency mining services provider NiceHash to introduce flexible lending solutions for miners. According to a press release shared with crypto.news on Tuesday, the initiative aims to enable miners to access liquidity without selling their Bitcoin (BTC) holdings.
Through this collaboration, M2 will use BTC as collateral to provide loans to Tether (USDT) Stablecoin to Crypto Miner. Companies suggest that these loans will help miners expand their operations and cover costs.
“At M2, we understand the challenges miners face in maintaining liquidity while maintaining Bitcoin investment. Our partnership with NiceHash represents a common vision to empower miners with smarter financial solutions that allow them to grow their businesses without sacrificing Bitcoin holdings.”
-Sudhu Arumugam, Chief Product Officer, M2
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M2 loan backbone
According to M2, miners can use Bitcoin as collateral to unlock liquidity and get “flexible repayment options, such as assigning a portion of the hashrate.”
Hashrate Marketplace Operator NiceHash emphasizes that it is more than just a temporary partner in the venture, saying its technology “enhancing the technology behind M2’s lending solutions.”
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