RATE Group | Bitcoin Mining Pool Poolin Partners With BlockFi to Expand Crypto Lending Service
89811
post-template-default,single,single-post,postid-89811,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Mining Pool Poolin Partners With BlockFi to Expand Crypto Lending Service

02 Jun Bitcoin Mining Pool Poolin Partners With BlockFi to Expand Crypto Lending Service

Posted at 12:39h in Bitcoin News by

Poolin, the second largest bitcoin mining pool, is expanding its cryptocurrency lending and financial services businesses.

The pool announced Monday that it has started working with U.S.-based crypto lender BlockFi, which will be acting like an interbank lender, providing a source of capital for Poolin.

The firm initially rolled out crypto lending offerings in February via its Singapore-registered wallet entity, Blockin. With more capital now available, Poolin will be able to extend the business to more miner customers, offering annualized interest at levels that can be below 6%.

Miners that connect to the pool currently have about 18.3 exahashes per second (EH/s) of combined computing power, accounting for roughly 20% of the bitcoin network’s total. That makes PoolIn the second largest bitcoin mining pool, close behind F2Pool with around 19 EH/s of hashing power.

“[A] mining pool is a traffic business and it is getting more and more competitive,” said Yang Jianguo, head of…

Source link

Tags:
, , , , , , , , ,