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Sunday, July 14, 2024
HomeNewsBinance Launches Bitcoin Cloud Mining: Earn BTC While Regulatory Storm Rages

Binance Launches Bitcoin Cloud Mining: Earn BTC While Regulatory Storm Rages

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TL;TD:

Binance, the world’s largest cryptocurrency exchange, has launched a subscription-based Bitcoin cloud mining service. Users can purchase hashrates and potentially earn Bitcoin through mining. The service is available for six months and is currently accessible only on Binance’s global website. This move comes amid ongoing regulatory challenges for Binance in the United States, including legal action by the Securities and Exchange Commission (SEC) for alleged violations of securities laws.

Facts

  • 💻 Binance has launched a Bitcoin cloud mining service, allowing users to subscribe and purchase hashrates.
  • 💰 The purchased hashrate determines the probability of higher Bitcoin earnings through mining.
  • ⏳ The BTC mining subscription service is active for six months, with potential earnings of 0.0004338 BTC for every TH/s purchased.
  • 🌍 The service is currently available only on Binance’s global website, with users from the United States unable to access it.
  • ⚖️ Binance is facing regulatory challenges, including legal action by the SEC for alleged securities law violations.
  • 🔒 The SEC accuses Binance of operating as an unregistered securities exchange and CZ (Changpeng Zhao) of misleading customers and evading securities laws.
  • 🔨 Despite the regulatory issues, Binance remains committed to advancing its services, as demonstrated by the launch of the cloud mining service.

Source: Cryptodaily

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