Binance, the world’s largest crypto exchange by volume, is inviting Bitcoin (BTC) miners to join its cloud mining project. The platform aims to provide users with more cloud mining products and increased benefits. The initiative, called Cloud Mining Partner Program, was announced on Friday, January 13th.
The official announcement states that successful applicants will have access to a variety of benefits. Some of these benefits include exclusive mining fee discounts, and priority access to the Binance ecosystem’s services, resources, market reports, and seminars. Selected users will also gain access to Binance Pool VIP benefits “based on their average daily hashrate.”
However, there is some requirement to be eligible for the partnership program. Applicants will need to have reliable and stable power resources. Interested users will also need a total Bitcoin (BTC) hashrate of more than 500 PH/s.
For their mining devices, users must achieve an average daily online rate of greater than 95%. Additionally, candidates must have a skilled mining operation crew and an extensive mining monitoring system. Finally, to ensure a constant hash rate, applicants must maintain a specific amount of BTC collateral on their Binance Pool account.
Binance’s cloud mining operation back in full force?
In late December, severe weather struck the United States. Due to the climatic situation, Binance’s cloud mining products were shut from December 24-26. The company declared that consumers’ subscriptions to cloud mining products were extended for three days as a result of the power outage.
Due to the cold weather in Texas, Bitcoin miners decided to voluntarily reduce their output and return electricity to the grid so that locals could keep their houses warm. However, the worst seems to be over with the climate stabilizing as we enter the new year.