River Financial right now launched River Mining, an investment-grade bitcoin mining product that manages all of the features within the mining course of, from {hardware} procurement to knowledge heart internet hosting, in accordance to a press launch despatched to Bitcoin Magazine.
“The Bitcoin mining industry has shifted from once being able to profitably mine Bitcoin from a laptop in your home to requiring industrial-scale mining operations,” stated Alex Leishman, River CEO. “In recent years, only the largest players have had access to the returns of institutional Bitcoin mining. River Mining changes that.”
Customers should buy mining machines inside private or entity accounts at River, whereas the corporate takes care of procuring the rig, internet hosting it in a top-tier U.S.-based knowledge heart, integrating it with a mining pool, and sustaining most up-time and efficiency. River Mining additionally permits purchasers to monitor the efficiency of their bitcoin mining portfolio and particular person miner output.
The providing was first introduced in October, and the corporate is now increasing the scope of its mining product because it brings 1000’s of mining machines on-line in Q2 2022. River stated it additionally has agreements in place to develop River Mining to tens of 1000’s of rigs within the coming 12 months. The firm stated it at present has a whole bunch of bitcoin mining purchasers, starting from people with only one rig hashing to household workplaces and funding funds with fleets of mining rigs.
“Our mission is to accelerate the adoption of Bitcoin,” Leishman stated. “River Mining is an important step towards our vision to provide easy-to-use financial products to grow Bitcoin wealth.”
River started as a bitcoin brokerage firm specializing in safety, custody, and shopper service. Now, with the total launch of River Mining, the corporate tip-toes into the trade with the identical rules. Moreover, the suite of merchandise supplied by River now embody brokerage, custody, and mining choices that are all accessible on the corporate’s web site and cellular app.
