CryptoUniverse, one of the leaders of the cloud mining industry, has announced a partnership with Binance as part of the rollout of a new mining program. The new mining program allows users to team up to purchase collective mining contracts and share in the rewards.
Launched in 2017, CryptoUniverse has long been a mainstay of the global cloud mining scene. The mining center that houses the project is located in the Karelian Republic in northern Russia where it has access to large stores of cheap energy. The facility is equipped with over 41,000 top-of-the-line miners, the power of which is available to users looking to take advantage of low entry fees and high rewards.
Because of its ideal location and setup, CryptoUniverse has been able to build a loyal userbase, consisting of many who have found mining with the platform preferable to more traditional mining endeavors. Given the high electricity rates in most parts of the world and the exorbitant prices fetched by new mining equipment, getting involved in mining can seem a bleak prospect. Because of those challenges, CryptoUniverse has been able to find a sizeable niche of mining enthusiasts looking to give cloud mining a try.
In addition to the standard services CryptoUniverse provides its users—including miner rentals and purchases—the platform has just announced a new collective mining contract service and has partnered with Binance to ensure a maximum level of transparency for participants.
The new collective mining service gives users the opportunity to come together and work with their friends of other CryptoUniverse users. Miners that team up buy a certain amount of hashrate together, which is maintained by CryptoUniverse specialists. The mining power purchased produces rewards every day which are then shared by everyone in the mining pool in proportion to individual amounts of hashrate purchased. The contracts are being offered on a perpetual basis, meaning that, once purchased, they will continue to be valid until either the equipment is no longer functional or the mining ceases to be profitable. However, these contracts are resellable, so users can sell them to other miners whenever they want to.
Binance is involved with the program via their Binance Pool platform. All collective mining contracts are secured by equipment running in Binance Pool and all daily mining rewards are calculated and shared by Binance Pool. In addition, CryptoUniverse’s mining capacity is independently checked and verified by Binance and users are able to monitor the performance of their equipment and see what their daily profit tallies look like on the Binance Pool website via watcher-links to be generated by Binance Pool.
Because the collective mining program offers users rewards that are based upon shared mining power, there is less risk involved than if they were to go it alone with one of the individual cloud mining programs. This release from CryptoUniverse comes amid mounting pressure in the industry for the development of more sustainable mining models and will well serve those looking for one.
CryptoUniverse is a cloud mining company based in northern Russia. Since 2017, CryptoUniverse has been devoted to providing its userbase with the highest quality cloud mining services available. With a state-of-the-art mining facility and over 41,000 of the best miners at its disposal, CryptoUniverse is able to offer its users comprehensive services at low prices and has made transparency a priority, involving its users in each step of the cloud mining process.