BTC.TOP Launches 'Joint Mining' Platform, Users Pay After Breaking Even
Crypto mining pool BTC.TOP, via its subsidiary B.TOP, now offers "joint mining" - enabling users to buy hash power, as well as pay the fees and share the profit once their revenue reaches the cost of the equipment they initially bought.
"We hope to lower the entry barrier for those who would like to mine but cannot purchase or operate the mining machines because of various limitations," Jiang Zhuoer, founder and CEO of BTC.TOP, was quoted as saying in a press release.
B.TOP provides a variety of services, including hardware procurement at cost price. The company will not charge a maintenance fee until the user has broken even, they claimed, with the mining revenue automatically being settled by the platform on a daily basis according to the BTC/USD exchange rate.
More specifically, the platform offers to purchase the latest generation mining machines at bulk order prices directly from the manufacturers, including Bitmain, MicroBT, Canaan, and Innosilicon.
Furthermore, stating that B.TOP has access to cheap electricity prices, B.TOP can provide access to its users to the low electricity prices of its industrial-scale mining operations at cost price, they said.
"When these accumulated net revenues are equal to the cost initially paid by the user to purchase the miner, the user enters into a profit-sharing phase with B.TOP," said the mining pool. This is when the platform will charge a percentage of the user’s net mining revenue as maintenance fee or service charge, between 17.5% to 30%. The exact percentage depends on the user's total initial investment.
Zhuoer added that B.TOP offers shares in a single miner at cost price. A single share is exactly one terahash (TH) of hashrate. So, if a user wants to purchase one share in an Antminer S19 miner that costs USD 2,628.65 and has a total hashrate of 95TH, the share would be USD 27.67.
Users also have a choice to either withdraw their miners from B.TOP’s data centers in order to have them shipped to a wanted destination, or re-sell their miners to B.TOP at any point for the latest market price.
Meanwhile, other services have been available for those users who do not possess mining equipment but want to mine as an investment, offering different options. For example, those who mine on NiceHash are selling hash power to buyers, who in turn can rent that hash power.
Another is Mining Rig Rentals, which also offers crypto mining rig hashpower rental service. Users can fund their account with one of five supported cryptoassets and rent their own rig, with refunds if a rig underperforms.
Another option is Hashtap that allows buying hashing power provided by zpool and redirects it to the pool of the user's choice.
HashNest claims on its website that it's one of the earliest companies to provide cloudmining services, hosting a number of brands of miners. There is also Bitcoin Pool, provided by Bitcoin.com, as well as a variety of other cloud mining options.