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Bitcoin-only technology and financial services company River Financial announced today the launch of its mining white-glove service, River Mining, in a release shared with Bitcoin Magazine. The service seeks to reduce the barriers for new entrants into the bitcoin mining industry, allowing any U.S. customer to start mining BTC themselves.
“Our clients are looking to put their money to work, and River Mining will enable them to earn their own Bitcoin,” said Alex Leishman, River’s CEO. “This is a key step in our mission to accelerate the adoption of Bitcoin, the future of money.”
In the Bitcoin early days, it was possible to mine using a regular laptop. People would let their computers run as a full mining node and reap some inexpensive BTC from time to time. However, since the inception of the first ASIC mining machine in 2012, that reality began to change. Chips got more specialized by the year, and the mining industry became overly competitive, leaving retail bitcoin miners out of the picture. But River wants to change that.
“With River Mining, clients will own their mining hardware and the Bitcoin generated will be deposited directly into their River accounts,” per the release. “The company has partnered with premier U.S.-based data centers to manage the mining machines and ensure that River’s clients are using the best technology available, which will maximize their Bitcoin production.”
In September, Compass Mining launched a similar service, At-Home Mining, to democratize access to the bitcoin mining industry by delivering an ASIC machine to the customer’s door, as well as assisting with the necessary installation.
River takes a different approach by abstracting the process entirely. Instead of hosting mining rigs themselves, River Mining customers acquire a mining fleet in a rented data center, which is integrated to their River Financial platform.
The bitcoin-first, proof-of-work mining company has launched a new service to bring bitcoin mining to U.S. households on demand.
Bitcoin-first company Compass Mining announced today the launch of At-Home Mining. This direct-to-consumer service provides customers with the ability to mine bitcoin from their own homes. Clients that hire the service will have an ASIC machine delivered to their door within three weeks and customer support available to help them install the rig.
“Bitcoin was started by home miners and now we are seeing a renaissance of home mining,” said Thomas Heller, the chief business officer of Compass Mining. “We are proud of the work we have put into making Compass an industry leader and we are confident this new offering will bring more people into bitcoin mining, which is good for the community as a whole.”
Indeed, in 2009, 2010, and 2011, people could mine bitcoin with regular laptops at home. It wasn’t until the first ASIC machine was introduced in 2012 that that began to change. Since then, bitcoin mining has become more institutionalized by the year, leaving retail miners out of the equation. With its newest service, Compass is taking a shot towards re-enabling regular folks to mine bitcoin from the comfort of their homes without having to pay additional hosting facility fees.
“As Compass continues to expand the services we offer, we are continuously looking to make bitcoin mining accessible for everyone. With At-Home Mining, we are bringing bitcoin mining back to its roots,” said Whitney Gibbs, CEO of Compass. “While industrial mining operations and retail miners primarily use Compass to help them secure space in one of our 23 hosting facilities around the world, we have found that there is significant interest from our customer base to set up operations in their own home. By creating this new product line, it gives more flexibility and options of where to host their machine and mine bitcoin.”
Compass said sales have already gone live today, and customers who opt-in to the service can expect the hardware to arrive within two to three weeks of purchase. The company also highlighted that its support team would assist customers after their purchase. However, the At-Home Mining service is currently only available to U.S. customers.