KuCoin debuts cloud mining service for Dogecoin, Litecoin and Bitcoin
KuCoin has launched KuMining, a cloud mining platform for Proof-of-Work cryptocurrencies that allows users to mine up to 10% of the Dogecoin network’s total hashrate. The platform was developed in partnership with mining hardware manufacturers, operators, and energy companies.
At launch, KuMining offers a BTC hashrate of 10 exahashes per second, along with 200 terahashes per second for DOGE/LTC. This represents 10% of Dogecoin’s network hashrate and enables merged mining with Litecoin, a Proof-of-Work cryptocurrency using the Scrypt hashing algorithm.
“We are incredibly proud to introduce KuMining, a platform that levels the playing field for cryptocurrency mining,” said Jolie Du, Chief Operating Officer of KuMining.
Focus on retail miners
According to Du, users can now rent real hashrate from professional facilities with automated daily payouts, eliminating the complexities of purchasing equipment, managing energy consumption, and performing maintenance.
KuMining targets retail investors and is backed by mining facilities ranging from 300 megawatts to 2 gigawatts of power, distributed across vetted global sites. The platform is designed for scalability, with monthly expansions planned to meet growing demand.
Users will be able to start renting DOGE/BTC hashrate on September 16 and earn daily profits. The project also enables users to manage risks and dollar-cost-average their digital assets without worrying about market volatility.
“The incubation of KuMining reaffirms our community’s commitment to ‘crypto for good,’ returning hashrate to retail investors at competitive prices,” said KuCoin CEO B.K. Wong.
KuMining integrates with the KuCoin ecosystem, offering rewards through its native token, KCS. Following the platform’s announcement, KCS rose by 1.5%, breaking the $15 mark and trading around $15.1 at press time.
KСT price dynamics for 24 hours. Source: CoinMarketCap
Dogecoin is the second-largest Proof-of-Work cryptocurrency by market capitalization after Bitcoin, with Litecoin ranking fourth after Bitcoin Cash. Other PoW cryptocurrencies include Monero, Kaspa, and Ravencoin.
As we wrote, KuCoin debuts tools to boost crypto trading
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