Home Cryptocurrency Bybit To Launch Cloud Mining To Democratize Ethereum Mining

Bybit To Launch Cloud Mining To Democratize Ethereum Mining

by Gordon James

After months of anticipation, cryptocurrency cloud mining and exchange platform Bybit has finally announced it will be launching Ethereum cloud mining. Bybit’s Ethereum miners will be hosted on Amazon Web Services in order to provide users with “perfect mining experience.” Bybit’s new mining service is set to launch in late August or early September of this year. Bybit is currently running a sign-up promotion, allowing users to subscribe for Ethereum cloud mining at a discounted rate.

Cryptocurrency mining has become a profitable venture over the past few years, and it’s one that is accessible to anyone with a computer and an internet connection. The only problem is that, as the value of cryptocurrencies like Bitcoin and Ethereum have risen, the competition has gotten stiffer. Now, Bybit, the world’s leading cryptocurrency exchange, is looking to rectify that issue with a new cloud mining product.

Singapore, Singapore, 4. May 2021,

SINGAPORE, 4. 20 May 2021 – Crypto-currency exchange Bybit will launch Bybit Cloud Mining, a mining-as-a-service (MaaS) product that gives users instant access to Ether (ETH) mining for as little as $100, in May.

Democratisation and risk mitigation of crypto mining

The unstoppable growth of cryptocurrencies in recent months has caught everyone’s attention and sparked a wave of interest in cryptocurrency mining – or obtaining cryptocurrency tokens to verify transaction blocks.

However, the profitability of this activity is limited by a number of factors: the supply and price of the computer system, operation and maintenance costs, and electricity costs, which make cryptocurrency mining expensive and time-consuming.

The first product in Bybit’s ByFi portfolio, Bybit Cloud Mining is designed to help users navigate a fast-growing, yet ever-changing industry by lowering the barrier to entry and providing a hassle-free approach to mining, opening the door to greater profitability and less risk. Bybit Cloud Mining provides the hash performance or hash rate of a remote data center with shared computing power for Ether mining. Users can get started as low as $100 without having to use their own equipment.

Hop on, hop off: high visibility and profitability

Bybit Cloud Mining offers flexible plans of 7 days, 21 days and 42 days. Users can customize a short-term investment plan to achieve higher returns while minimizing the risks associated with price fluctuations and unforeseen market action over the long term. The service will be available immediately after purchase, offers total ease of use and covers all of Bybit’s downtime, allowing users to operate the mines with more confidence.

We are very excited to introduce Bybit Cloud Mining and believe it is the perfect solution for users who are interested in mining cryptocurrencies, but do not want to deal with the operation and maintenance of the hardware, said Bill Xin, head of financial products at Bybit. With Bybit Cloud Mining, users just need to buy the right amount of hashrate and quietly watch the ETH being mined directly from the cloud.

About Bibit

Bybit is a cryptocurrency exchange that was founded in March 2018. The company provides online trading and mining services and API support to individual and professional clients worldwide.

For more information, please visit: https://www.bybit.com/

Keep an eye on Bybit’s social media for updates: Twitter and Telegram.

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