Binance, the world’s largest cryptocurrency exchange by daily trading volume, has announced the launch of its new subscription-based Bitcoin cloud mining services. The move comes as a surprise amidst the ongoing regulatory challenges Binance is facing in the United States.

Binance’s Bitcoin Cloud Mining Service

Binance announced the launch on Twitter, claiming that users who are interested in Bitcoin mining but lack the necessary hardware can subscribe to these new cloud mining services and purchase hashrates. Currently, Binance offers 1 Terahash per second (Th/s) at a rate of $10.7280. An increase in the purchased hashrate corresponds to an increased probability of higher Bitcoin earnings through mining.

The BTC mining subscription service will remain active for six months. During this 180-day period, for every TH/s purchased, users could potentially earn 0.0004338 BTC. However, as of now, this product is only available on Binance’s global website, indicating that users from the United States cannot access it.

Current Regulatory Trouble

Binance’s decision to launch these cloud mining services comes at a particularly challenging time for the cryptocurrency exchange. In the United States, the Securities and Exchange Commission (SEC) has taken legal action against Binance, alleging violations of securities laws. Alongside this, the SEC has filed for a temporary restraining order to freeze the assets of Binance.US.

The SEC has

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Author: Vince Dioquino

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