Loka announces new Bitcoin mining pool for renewable energy miners

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As a seasoned financial analyst with extensive experience in the Bitcoin mining industry, I find the partnership between Loka and Hashlabs to be an exciting development in the decentralized Bitcoin mining landscape. With the current Bitcoin mining market valued at over $10 billion, it’s clear that there is immense potential for growth and innovation.

Loka, a decentralized Bitcoin mining pool, announced a collaboration with Hashlabs, enabling Bitcoin miners to receive instant cash-outs using a novel protocol.

Through our collaboration with Hashlabs, a reputable sustainable energy mining company with bases in Ethiopia, Finland, and Kazakhstan, Loka is empowered to introduce a permissionless platform that allows miners to trade their upcoming mining profits.

Eyeing the $10 billion BTC mining market

Bitcoin mining is currently a thriving industry worth around ten billion dollars, and Loka aspires to make its mark by implementing a decentralized finance (DeFi) strategy. This strategy hinges on the utilization of renewable energy sources to reduce the financial risks linked to the volatile pricing of Bitcoin. By adopting this sustainable approach, Loka intends to add more fluidity to the market. It’s worth noting that miners are estimated to control around ten percent of the total Bitcoin supply, which amounts to roughly $50 billion.

As a crypto investor, I would explain it this way: The protocol enables me to acquire contracts collateralized at 110% of the underlying asset’s value. These contracted tokens grant me instant access to secondary markets’ liquidity. This comes in handy for miners facing decreased revenues following a halving event. By leveraging these tokens, they can effectively manage their liquidity while protecting themselves against market fluctuations.

As a crypto investor, I’m always on the lookout for opportunities to maximize my returns while minimizing my carbon footprint. That’s why I find the new renewable energy mining pool particularly attractive. Instead of dealing with intermediaries, this pool connects me directly with renewable energy miners. Plus, they offer discounted BTC hashrate contracts specifically for institutional investors like myself. It’s a win-win situation: I get to invest in Bitcoin while supporting clean energy sources.

As a researcher studying the cryptocurrency market, I’ve noticed a significant surge in demand from larger investors for easier ways to invest in Bitcoin. With Hashlabs’ vast supply of hashrate and direct access to miners, I’m proud to be part of a team that can fulfill this need – all while eliminating counterparty risk.

As a researcher studying the advancements in Bitcoin mining, I’m excited about Hashlabs’ latest initiative to implement a new protocol that contributes significantly to the sustainability of Bitcoin mining. This move is crucial for safeguarding miners’ financial health, an aspect that Hashlabs strongly advocates for through our commitment to providing sustainable and low-cost energy solutions. Our company manages approximately 500 petahashes or 0.08% of the total hashrate on the Bitcoin network.

New protocol to leverage ckBTC

In simple terms, Loka’s protocol ensures a non-custodial and trust-reduced setup where miners are compensated and investors can access liquidity using ckBTC.

CkBTC is a digital token that represents an equal value of Bitcoin (1:1). Unlike other wrapped tokens, it doesn’t necessitate relying on centralized bridges for Bitcoin conversion. Instead, ckBTC employs the Internet Computer’s Chain Fusion technology to enable direct engagement with the Bitcoin blockchain.

Using Chain Fusion, Loka is able to employ intelligent contracts for validating mining inputs and administering incentives.

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2024-07-16 16:04