Binance Pool Starts $500 Million Fund to Support Bitcoin Mining
Created By Jyotish
Crypto Winter has impacted severely to the businesses operating virtual mines.
Therefore, the cryptocurrency exchange Binance has started a loan program for bitcoin (BTC) miners.
Binance Pool has started a $500 million lending project for private and public miners.
The miners will be required to provide security for the loan in the form of tangible or digital assets.
The duration of loan will last between 18 and 24 months.
Apart from Binance, several other crypto firms come forward to support the crypto mining industry.
The founder of crypto mining rig-maker Bitmain, Jihan Wu is also launching a $250 million fund
DeFi platform Maple Finance & Grayscale has also taken an initiative to support miners.