Bitcoin mining is a fiercely competitive industry, yet Bitcoin.com's cloud mining services are experiencing unprecedented growth. The company's mining pool, pool.bitcoin.com, now commands approximately 3% of the Bitcoin network's global mining power, and its partnership with the largest U.S.-based bitcoin mining data center gives it a unique edge in the cloud mining space.
Soaring Demand: $15 Million Hardware Investment
In the last quarter alone, Bitcoin.com, in collaboration with a confidential North American data center, purchased over $15 million worth of Bitcoin mining equipment and sold more than $8 million in cloud mining contracts. The cloud mining operations, which launched in May, have seen record sellouts ever since, with demand growing in lockstep with the Bitcoin price.
“Our hashrate demand seems to be growing in lockstep with the Bitcoin price, and it doesn’t show signs of slowing,” said Shaun Chong, Bitcoin.com developer, after the first wave of cloud mining contract sales were sold out.
Zero Fees, 110% Block Reward: A Competitive Advantage
Bitcoin.com CEO Roger Ver expressed excitement over the growth: “This clearly shows that Bitcoin.com is one of the most profitable companies in the entire ecosystem today. With our continued efforts we will pave the way for the future mass adoption of Bitcoin via on-chain scaling as originally outlined by Satoshi Nakamoto.”
The pool offers a 110% block reward and 0% fees, making it highly attractive to miners. Cloud mining contracts come in three durations: three months, six months, and lifetime (while profitable). Users can earn bitcoins without purchasing specialized hardware or using complicated software.
Global Hardware Shortage Boosts Cloud Mining
As specialized mining hardware and chips become increasingly difficult to obtain due to global manufacturers struggling to meet demand, cloud mining offers an accessible alternative. Bitcoin.com’s partnership with one of the largest data centers in North America enables the company to purchase millions of dollars worth of mining equipment and pass the savings to customers.
“Our partnership with one of the largest data centers in North America has enabled us to purchase millions of dollars worth of mining equipment. This allows Bitcoin.com the ability to offer the best cloud mining services in the industry,” the company stated. Revenue from cloud mining sales is reinvested into purchasing more hardware to support on-chain scaling.
As the most trusted and tested blockchain worldwide, Bitcoin mining continues to be a profitable industry. Bitcoin.com’s pool aims to sustain its leadership by offering the best mining structure to its clients.