River Financial Announces Managed Bitcoin Mining Product
River Mining takes care of hardware procurement, hosting and maintenance while enabling customers to easily monitor the performance of their mining portfolio.River Financial today launched River Mining, an investment-gra...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
River Mining takes care of hardware procurement, hosting and maintenance while enabling customers to easily monitor the performance of their mining portfolio.
River Financial today launched River Mining, an investment-grade bitcoin mining product that manages all the aspects in the mining process, from hardware procurement to data center hosting, according to a press release sent 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,” said 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 can purchase mining machines within personal or entity accounts at River, while the company takes care of procuring the rig, hosting it in a top-tier U.S.-based data center, integrating it with a mining pool, and maintaining maximum up-time and performance. River Mining also allows clients to monitor the performance of their bitcoin mining portfolio and individual miner output.
The offering was first announced in October, and the company is now expanding the scope of its mining product as it brings thousands of mining machines online in Q2 2022. River said it also has agreements in place to grow River Mining to tens of thousands of rigs in the coming year. The company said it currently has hundreds of bitcoin mining clients, ranging from individuals with just one rig hashing to family offices and investment funds with fleets of mining rigs.
“Our mission is to accelerate the adoption of Bitcoin,” Leishman said. “River Mining is an important step towards our vision to provide easy-to-use financial products to grow Bitcoin wealth.”
River began as a bitcoin brokerage company focusing on security, custody, and client service. Now, with the full release of River Mining, the company tip-toes into the industry with the same principles. Moreover, the suite of products offered by River now encompass brokerage, custody, and mining offerings that are all accessible on the company’s website and mobile app.
Why this matters
This mining story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin MagazineRelated market context
Sazmining Launches the Wild Sats Club, a Loyalty Program That Discounts Mining Management Fees as Customer Hashrate Grows
Bitcoin Magazine Sazmining Launches the Wild Sats Club, a Loyalty Program That Discounts Mining Management Fees as Customer Hashra...
OpenWorld Begins Nasdaq Trading As VerifyMe Deal Creates Public Tokenization Company
TL;DR OpenWorld and VerifyMe have completed their business combination, with the combined company trading on Nasdaq under OPNW fro...
Jack Dorsey’s Block Launches Campaign To Get People Spending Bitcoin
Bitcoin Magazine Jack Dorsey’s Block Launches Campaign To Get People Spending Bitcoin Jack Dorsey’s Block continues the push to ma...
Whale stakes $1 million in SOL to a new Solana validator
The shift towards organic delegations may challenge decentralization, potentially concentrating power among well-funded validators...
Hyperliquid takes HYPE multichain with Solana, Base, and Unichain via Wormhole
The multichain expansion of HYPE via Wormhole could enhance liquidity and trading efficiency, but also introduces cross-chain depe...
Polymath And CineCity Explore Regulated Tokenized Film Investment Platform
TL;DR Polymath and Chicago-based CineCity Studios are exploring a platform for financing independent film through regulated digita...