Binance, a cryptocurrency exchange, has launched a loan scheme through its mining pool to assist cryptocurrency miners.
As part of attempts to strengthen the mining business, the initiative will assist bitcoin mining and infrastructure suppliers.
Binance Pool is launching a $500 million loan programme to assist cryptocurrency miners and providers of digital infrastructure.
Binance Pool wants to provide cloud mining goods, according to the exchange's release.
Because cloud mining hash power is acquired directly from bitcoin mining and digital infrastructure providers.
Binance Pool is searching for cloud mining companies to collaborate with, according to the trading platform.
Binance Pool, along with Foundry USA, Antpool, F2pool, and Viabtc, is a leader in the mining business in terms of hashrate share.