Binance Invites Mining Cloud Service amid US SEC Regulation
For those fascinated by mining for Bitcoin, but lacking the appropriate hardware, Binance has opened their subscription-based cloud mining services. As of June 15th, it's possible to tap into an alternate mining solution by purchasing computational power to carry out Bitcoin transaction verifications and subsequent confirmations occurring on the blockchain. It's a major breakthrough in the industry, offering a chance for everyday miners to accrue some of bitcoin's rewards.
The Binance mining subscription service offers an impressive 1TH/s package for the bargain price of $10.7280, split up into $1.17 for the hashrate and $9.558 for electricity. With a commitment of 180 days, or 6 months of mining time, you can potentially garner 0.0004338 BTC of Bitcoin earnings - an enticingly attractive deal! Moreover, the more hashrate you invest in, the higher the potential gains, making this great value for money. Taking this plunge means you could be significantly reaping the rewards of a few months' mining reconnaissance and it's never been this easy to get into the world of cryptocurrency adventure.
Binance has continually made their stance on offering services to clients based in the United States clear, emphasizing that due to SEC intervention services are not offered to these potential crypto investors. The exchange discussed this further with Cointelegraph, vehemently denying the inclusion of those from the U.S. as it stands. Not only have these talks ripened the root of their decision, but also solidified it as immovable, despite the many voices of contention. In a global market, Americans are left out of the opportunity of investing in cryptocurrencies with the premier Binance platform.
John Reed Stark, the ex-SEC internet enforcement chief, spoke his mind on Binance's activities, apparently gearing up for criminal prosecution. Since the SEC claimed that Binance's U.S. offshoot was in infringement of the law, running as an unregulated stock exchange, broker, or clearinghouse; the organization appeared to take action on June 9th. Conspicuously, Stark, in his tweets, revealled his attitude regarding this move.
