Binance Pool Starts $500 Million Fund to Support Bitcoin Mining

Crypto Winter has impacted severely to the businesses operating virtual mines.

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Therefore, the cryptocurrency exchange Binance has started a loan program for bitcoin (BTC) miners.

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Binance Pool has started a $500 million lending project for private and public miners.

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The miners will be required to provide security for the loan in the form of tangible or digital assets.

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The duration of loan will last between 18 and 24 months.

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Apart from Binance, several other crypto firms come forward to support the crypto mining industry.

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The founder of crypto mining rig-maker Bitmain, Jihan Wu is also launching a $250 million fund

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DeFi platform Maple Finance & Grayscale has also taken an initiative to support miners.

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