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DGAP-News: Bybit / Key word(s): Market launch Bybit to Launch Cloud Mining to Democratize Ethereum Mining 2021-05-04 / 14:45 The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- Bybit to Launch Cloud Mining to Democratize Ethereum Mining SINGAPORE - Media OutReach - 4 May 2021 - Cryptocurrency exchange Bybit will launch in May Bybit Cloud Mining, a mining-as-a-service (MaaS) product that gives users instant access to ether (ETH) mining from as little as USD100. Democratizing and de-risking crypto mining The relentless growth of cryptocurrencies in recent months has caught mainstream attention and fueled a surge in interest in crypto mining - or receiving crypto tokens for verifying blocks of transactions. The profitability of this endeavor, however, is hampered by a number of factors: the supply and price of the computer system, operation and maintenance cost, and electricity fees that render crypto mining costly and painstaking. As the first entry to Bybit's ByFi product suite, Bybit Cloud Mining aims to help users navigate the booming yet ever-changing industry by lowering the barrier to entry and ensuring a hassle-free approach to mining, thus opening the door to greater profitability and fewer risks. Bybit Cloud Mining offers hashing power, or hash rate, to a remote data center with shared computing power to mine ether. Users can start from as low as USD100 and without ever having to run their own hardware. Hop on, hop off: high visibility and profitability Bybit Cloud Mining offers flexible 7-, 21-, and 42-day plans. Users can customize a short-term investment plan for greater profitability, while minimizing the risks of price fluctuations and unforeseeable market activities in the long term. The service will be instantly available upon purchase, come with 100% usability, and have any downtime covered by Bybit, allowing users to mine with greater confidence. "We are really excited to introduce Bybit Cloud Mining, and think it is an ideal solution for users who are interested in crypto mining, but don't want to be bogged down by the hassle of operations and hardware maintenance," said Bill Xing, head of financial products at Bybit. "With Bybit Cloud Mining, all that users have to do is to purchase the amount of hashrate they want and sit back to see ETH harvested directly 'from the cloud'." About Bybit Bybit is a cryptocurrency exchange established in March 2018. The company provides online trading and mining services, as well as API support to retail and professional clients around the world. For more information please visit: https://www.bybit.com/ For updates, follow Bybit's social platforms on Twitter and Telegram. Contact: Mavis Wu mavis.wu@hkstrategies.com +852 2894 6356 =---------------------------------------------------------------------------------------------------------------------- 2021-05-04 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de =---------------------------------------------------------------------------------------------------------------------- Language: English Company: Bybit Germany EQS News ID: 1192382 End of News DGAP News Service =------------
1192382 2021-05-04
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(END) Dow Jones Newswires
May 04, 2021 08:45 ET (12:45 GMT)
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