Bitdeer Group Expands Its Digital Mining Offerings with Filecoin (FIL) Integration

UTC by Andy Watson · 4 min read
Bitdeer Group Expands Its Digital Mining Offerings with Filecoin (FIL) Integration
Photo: Bitdeer / Facebook

The enlistment of Filecoin is centered on the revolutionary approach of the platform in offering decentralized cloud storage service.

Of the ways to gain exposure to the hoard of digital currencies around today, mining remains one of the most reliable avenues. While the cost implications and technical expertise of setting up a Bitcoin (BTC), Ethereum (ETH), or Litecoin (LTC) mining farm might be out of the reach of the average investor, companies like the Bitdeer Group are bridging the gap by providing a series of products that helps investors earn from Proof-of-Work (PoW) mining.

As one of the core pioneers in the digital currency mining ecosystem, the Bitdeer Group, through its Bitdeer unit supports a total of 10 cryptocurrencies including BTC, ETH, LTC, meme coin Dogecoin (DOGE), Ethereum Classic (ETC), Bitcoin Cash (BCH), Dash (DASH), Zcash (ZCASH), Decred (DCR), and Nervos (CKB). Despite this robust portfolio, the company has announced the addition of Filecoin (FIL) to its Cloud Hashrate products, reaffirming its determination to maintain the lead in the digital asset mining industry.

The Bitdeer Group’s Cloud Hashrate and Hosting services come either as a ‘Classic’ or ‘Accelerator’ mode. While both offer value to the investor, the choice depends on the core goals of the prospective miner.

Enlisting Filecoin (FIL)

The enlistment of Filecoin is centered on the revolutionary approach of the platform in offering decentralized cloud storage service, drawing on the capabilities of blockchain technology. Filecoin seeks to store the most important data in the world in a cheap and efficient manner. Besides powering decentralized data storage, Filecoin has the ultimate ambition to wrestle power from the big tech including Amazon Web Service and Microsoft Azure amongst others.

The Filecoin ecosystem is powered by the FIL coin, and Bitdeer has made provisions for investors to mine the coin, starting on November 10. Just as Bitdeer is known as the go-to platform for all users, irrespective of their budget and experience, Filecoin mining as listed on the Bitdeer website has four distinct pricings, albeit, with different hashrate capabilities.

The integration of Filecoin mining follows and will benefit from the regulatory compliance of the Bitdeer Group. The mining activities will also be powered by the company’s sustainable data centers, and investors will receive maximum customer protection that is put in place by the Bitdeer Group. 

The mining contract users are eligible to purchase is billed to run for a total of 540 with earnings billed to be distributed over a period of 180 days

Repositioning as an All-Inclusive Digital Mining Outfit

Users who seek exposure to digital currency mining through the Bitdeer Group have a high chance of getting a wide range of services from the firm as it offers the complete suite of products that miners need.

Besides Bitdeer through which users can mine digital assets, the parent company also has the Mining Datacenter and Minerplus units with their unique product and service offerings. 

Drawing on the gap the crackdown on mining activities in China presented earlier on in the year, the Bitdeer Group’s Mining Datacenter has repositioned itself as a standardized, and professional facility that can serve as a home to miners. The Mining Datacenter is powered by renewable energy that is aggregated from various sources. With increasing demand on blockchain outfits to reduce carbon emissions through their operations, the Bitdeer Group is notably leading the charge to a green crypto world. 

The Minerplus is a software development and management outfit that is a key element to monitor, operate, manage, and safeguard mining equipment. The products emanating from the Bitdeer Minerplus outfit are compatible with both ASIC and GPU Mining respectively.

Bitdeer Group was founded by Jihan Wu, one of the Co-Founders of Bitmain and Matrixport. The company is backed by big investors in the industry, chief of whom includes Sequoia Capital and IDG. The company’s backing guarantees a deep capital and liquidity to sustain its product offerings in terms of operational management, and the instant payout of earnings.

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Andy Watson
Author Andy Watson

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