Place/Date: - December 9th, 2020 at 11:16 am UTC · 7 min read
Contact: BitFuFu, Source: BitFuFu
Standardization of hashrate mining path has been shortened once again.
“If you don’t understand, I don’t have time to convince you” – Satoshi Nakamoto.
In 2021, the starting point for any newcomer in the cryptocurrency industry may start with BTC at 20,000 dollars each. Bitcoin price has increased by 140% in 2020 while higher price will inevitably bring new “innovators” in the industry. BitFuFu, the world’s first standardized hashrate mining platform, applies hashrate standardization as the core element for pricing. Users can select mining products based on production efficiency more conveniently and intuitively. Meanwhile, the platform’s hashrate products have achieved the first-class standard in the cloud mining industry: one-click orders, no need to go through those complicated steps such as selecting proper mining machines and mines, machine maintenance, mining pools connection, etc., Users can get bitcoins at a low cost.
Standardization of hashrate = multiple models of the same series are intelligently proportioned into units with the same standard power consumption (energy efficiency ratio).
At present, the market competition in the cloud mining industry is very fierce, and more and more cloudy hashrate platforms are emerging, and the good ones and the bad ones are mixed in the industry. Both new and old “miners” are well aware that the pricing of cloud hashrate contracts on various platforms is uneven, and it is difficult for users to define the impact of mining output caused by messy conditions and multiple variables. The development of the industry requires different platforms to compete, and the transparency of mining output of different products requires standardized measurement. However, the current process of “standardization” is just a “draft” or “slogan”.
Hashrate is an abstract digital commodity along with the birth of Bitcoin. Because of the different types and qualities of bulk commodities (such as soybeans), it is difficult to trade if they are not quantified or classified at the same standard.
Take soybean products as an example which are traded frequently. When soybean products enter the market, they must be standardized. For example, when buyers and sellers trade soybeans, the contract terms are formulated by the international market platform.
For example, the trading time, the unit quantity of soybeans corresponding to the first-hand order, the type of soybean products, and the quality are all standardized on the platform. Both parties only need to buy and sell based on price, without considering the quantity of soybeans, product types, quality standards, etc.
For users, commodity standardization avoids messy conditions and multiple variable factors, and only needs to pay attention to commodity price changes. Commodity standardization not only enhances the transparency of commodity prices, but also regulates industry standards, reduces the asymmetry of information between parties to transactions, and increases industry openness. Therefore, the answer to the standardization of the cloud mining industry is hashrate standardized products, so that the market price of hashrate will be more transparent, and users will be more convenient and intuitive when selecting and trading.
The core indicator of the mining machine for digital currency output is the energy consumption ratio (J/T), which is also the only indicator of product standardization. The energy efficiency ratio (J/T) of each model of the mining machine of different brands currently on the market is not the same.
BitFuFu combines multiple models with similar energy efficiency ratios through the BitFuFu efficient hashrate allocation center and smart matching backstage to package multiple models into a 30, 40, 50 and other series of standardized hashrate products.
Customers only need to pay attention to each series. The energy efficiency ratio can be traded without having to choose different brands and different models of mining machines. Taking the ’30 series’ as an example, this series mainly includes the Antminer S19Pro model, S19 model and other mining machine models of about 30J/T, and the “30 series” standardized package which is obtained by intelligent proportioning of multiple models.
Standardized hashrate products allow users to calculate and select mining output more conveniently and intuitively. For the industry, more efficient hashrate product transactions and circulation promote the healthy development of the industry. For partners, mining machine manufacturers and mining farms in the market are also easier to settle, and the platform will soon be online for hashrate trading and direct operation of multi-power mining farms.
In addition to innovative product design and technical capabilities, BitFuFu still has the general advantages of cloud computing platform:
The mining output is transparent. The BITFUFU platform provides mining services through real mining machines. The platform connects to the designated mining pool according to the user’s instructions, and the mining pool directly distributes the digital currency mining output to the user’s Cobo wallet.
The choice of hashrate is flexible. Compared with the traditional mining and hosting business model, the purchasing threshold of the BITFUFU service is lower, started from 10T hashrate. On the basis of more flexible selection, BITFUFU provides a very competitive combination of long and short periods. Therefore, their advantage is quite obvious.
To make purchases and leases safer, the BITFUFU platform selects the world’s leading mining machine manufacturers, such as Bitmain, Shenma, and Yibang; and unites domestic and overseas compliant mines, which are located in Russia, the United States, Xinjiang, China, and Sichuan, China. Relevant documents are reviewed by the platform to ensure supplier compliance; using the 7*24 smart mine operation and maintenance system, after the purchase is completed, the hashrate will be allocated to users automatically. The real-time power failure detection will allow users to be compensated automatically; By cooperating with F2tPool, a world-class mining pool, to improve the security and stability of cloud mining products and services, BITFUFU make every user worry-free.
“Standardization of hashrate, transparency of mining output, flexibility of hashrate selection, and security of purchase and lease.”
BITFUFU is committed to providing global users with true, stable, convenient and safe global TOP-level cloud mining services. The platform will be launched globally on December 15, so stay tuned.
The BitFuFu hashrate standardized cloud mining platform will be launched on December 15th. All registered users can receive a free gift for newcomers: “0 yuan purchase” 10T hashrate product, worth 2 US dollars, to experience the real mining power of the BitFuFu platform standardized products. Newcomers can also enjoy a 50 series 20T*3 day package, with a 50% discount on hashrate. Free mining, one-click start, mining has never been easier.
BitFuFu’s “30 series” products should include the Antminer S19Pro model, S19 model and other mining machine models with an energy consumption ratio of about 30J/T. Many models have a “30 series” standardized product package according to the intelligent ratio. With the ultimate energy consumption ratio, the 30 series product platform with the strongest hashrate will have the biggest discount on the launch day, so stay tuned.
Immediately enter the official BitFuFu global community, consult the official customer service department to answer questions, get more new product information, and learn about the closed beta benefit snap-up information. On the day the platform was launched, the community even snapped up the 40 series of hashrate products at a special price, and invited friends into the group to share benefits.
BitFuFu also launched a referral program. If friends are successfully invited to register and place an order, the platform will reward the invitees in a tiered system based on the first hashrate expenditure of the invitee. The reward can be up to 5%. The single reward amount can reach 5000$, and the maximum reward is unlimited.
For more information, visit the website.