Binance Launches Ethereum Mining Pool

After launching Bitcoin Mining Pool last April, the exchange decided to launch a new mining pool, this time for Ethereum.

The first month (from 12 November to 12 December) will be free of charge with no participation fees while after the testing month, there would be a charge of 0.5 % fee on the accumulated profit.

A very nice characteristic for Bitcoin Mining Pool from Binance is that it allows the switch between mining in cryptocurrencies with the same algorithm structure (SHA - 256) like Bitcoin, Bitcoin Cash and Bitcoin SV.

According to BTC.com’s data, Binance has acquired the 9.4 % of the total hash rate in the Bitcoin network. It is worth noting that 50 % of total Bitcoin hash rate are handled from 4 companies : F2Pool (18,5 %), Poolin (12,2 %), BTC.com (11,6 %) and AntPool (11,5 %).