BitFuFu, a player in the Bitcoin mining and cloud-mining services sector, has officially launched its private-label mining pool, known as BitFuFu Pool. The pool will attract both institutional and retail miners by offering competitive commission rates starting at just 0.4%.
As part of its expansion strategy, BitFuFu has also announced its plan to allocate its entire self-mining hashrate to the new pool, which will enhance its mining capacity. In addition, the company has shared that it currently holds 1,664 BTC.
BitFuFu Expands Offerings with New Bitcoin Mining Pool
According to a recent report, BitFuFu has introduced BitFuFu Pool, a private-label Bitcoin mining pool that promises competitive commission rates beginning at 0.4%. This new service will be available starting next week through the BitFuFu app, which is accessible to users purchasing cloud-mining products and miner services.
As part of its broader business model, BitFuFu has decided to direct its entire self-mining hashrate to the new pool. This means that all of the computing power dedicated to Bitcoin mining will now be channeled into BitFuFu Pool. This shift will boost the pool’s capacity and attract more miners looking for an efficient and cost-effective way to mine.
The company is also focusing on offering an array of services to both institutional and retail clients. These include real-time monitoring tools, firmware solutions, maintenance services, and a user-friendly platform for easy mining operations. The pool’s commission rates will make it an attractive option for miners who are looking to maximize profits.
This strategic move aligns with the rising Bitcoin price and the growing demand for efficient mining solutions. After crossing the $100,000 mark, Bitcoin price experienced a sharp decline, dropping to $97,640 in a sudden flash crash. This drop triggered over $649 million in total liquidations across the crypto market, with Bitcoin leading the way at $216.95 million in losses.
Focus on Institutional Clients and Customized Services
BitFuFu also stated that it will cater to institutional clients by offering customized services through consultations with sales representatives. These services will help large-scale miners optimize their operations in the Bitcoin mining ecosystem.
BitFuFu Pool is initially focused on Bitcoin mining, but there are plans to expand to other digital assets in the future. This expansion will allow the crypto mining company to diversify its offerings and tap into other cryptocurrencies. The company’s strategic partners will play a crucial role in this expansion.
As of today, the crypto mining company holds a total of 1,664 BTC, reflecting its disciplined approach to treasury management. This strategy allows the company to accumulate Bitcoin through self-mining while also generating cash flow by providing cloud-mining services.
Similarly, most recently, Hut 8 announced plans to raise $500 million through the sale of common stock under an ATM program. The proceeds will be used to purchase more Bitcoin, enhancing its reserves. Additionally, the company revealed a $250 million stock repurchase program, aiming to buy back 5% of its outstanding shares over the next 12 months.
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