CoinDesk: Binance will launch cloud mining services in November

ChainCatcher news, a Binance spokesperson informed CoinDesk via email on Monday that the cloud mining service will officially launch in November. Unlike Bitdeer and BitFuFu, which sell a combination of self-operated and third-party hash power, Binance Pool will purchase hash power from third parties and may not operate its own infrastructure.

Binance Pool announced its $500 million Bitcoin miner loan fund last week and stated that it will enter the cloud mining space, a service that allows investors to rent cryptocurrency mining machines. (CoinDesk)