Mining industry faces major changes: BitFuFu will become Bitmain’s official computing platform

On February 22, BitFuFu.com, a global innovative computing power standardized mining platform, announced a strategic partnership with the mining machine giant Bitmain. The two parties will carry out in-depth cooperation in mining machines, mining farms, mining pools and other aspects. In the future, the two parties will also jointly launch the first sales and supply of new generation products to jointly explore the global market. With Antminer as the computing power supplier and customer-centric, BitFuFu will continue to provide the best computing power services to global customers.

BitFuFu is a global innovative computing power standardized mining platform. It leases its own computing power and the computing power of cooperative mines on a time-sharing basis to allow users to mine easily. The mining machines are placed in professional mining machine hosting farms. A professional team is responsible for searching for low-cost energy and managing and operating the mining machines. Users do not need to worry about it. Users only need to obtain mining output on a daily basis.

Nowadays, mining has become a relatively mature industry, with mines getting bigger and bigger, and more and more funds entering the industry. In the future, cloud computing power will play an increasingly important role in the mining industry. Cloud computing power can provide individuals with a more "neutral" investment method, with a lower threshold than self-built mines, lower risks than short-term operations, and lower costs than market price purchases. It can also allow mines to share costs and reduce risks, and obtain more abundant cash flow.

Why did mining machine giants join forces to innovate computing power platforms?

For BitFuFu, choosing Antminer, a global mining machine giant, as a computing power supplier can strengthen the integration of its resources in the industrial chain, allowing users to obtain high-quality resources at a low price, get stable and reliable services, and realize cash more easily. On the BitFuFu platform, mining costs mainly include mining machine computing power fees per ton and electricity fees per kilowatt-hour. In addition to the electricity fee per kilowatt-hour, which is more affordable than the market price, the platform no longer charges any other fees. Moreover, the mining income on BitFuFu is directly transferred from the third-party mining pool to the personal wallet address. All mining output belongs to the user, and the platform does not participate in the distribution of income. From this perspective, whether it is a miner user who is engaged in long-term stable mining or a computing power mining investor who wants to fight for a per-ton income in the short term, mining through BitFuFu cloud computing power is a good choice. With the support of Bitmain, BitFuFu can provide customers with better services and safer guarantees, and provide customers with open, fair and transparent real mining services.

For Bitmain, cooperation with BitFuFu can help link the resources of upstream and downstream mining farms and mining pools in the industry and bring them long-term stable cash flow. At the same time, Bitmain can also obtain and convert more potential mining machine purchase users.

It is reported that Ant Pool has decided to cooperate deeply with BitFuFu to provide stable access and operation escort for BitFuFu users' computing power. Bitmain's mining farm will also provide hosting services for BitFuFu mining machines. Bitmain's mining farm has a full range of professional teams including mining machine operation and maintenance, repair, electrical, network, and system development. The factory building is of high standard and high quality, and all use intelligent operation and maintenance systems to monitor the status of mining machines in real time. It has been providing services to its major customers before. After reaching a cooperation with BitFuFu, it will bring more professional mining farm services to its platform users. At the same time, BitFuFu is also launching a promotion of self-operated mining packages hosted in Bitmain's mining farm, including 0 yuan purchase and half-price purchase and other high-discount limited mining packages.

What impact will the cooperation between the two parties have on the mining industry?

The cloud computing platform can provide customers with more open, fair, transparent and cost-effective real mining services, and can also use a decentralized approach to release profits from the middle links to users to a greater extent. As the cryptocurrency market enters a new round of bull market cycle, under the leadership of the cooperation between Bitmain and BitFuFu, the industry is expected to see more mining machine manufacturers increase their layout in the field of cloud computing, which will also attract more cloud computing service providers to cooperate.

What impact will this trend have on the mining industry?

We believe that when more and more mining machine manufacturers cooperate with cloud computing service providers, it will inevitably promote the development of "computing power standardization". This is because computing power has gradually evolved into an abstract digital commodity after the creation of Bitcoin. In the future, standardization is the only way to better circulate. In this process, mining machine manufacturers play more of the role of "computing power commodity" producers, while cloud computing service providers become "computing power commodity" distribution channels. When the two parties reach a cooperation, the supply and marketing integration model will take shape, which will make the trading and circulation of computing power products more efficient and promote the healthy development of the entire mining industry. Take BitFuFu as an example. They first proposed the concept of mining computing power standardization in the industry, that is, multiple models of the same series are intelligently scheduled into a unified standard power consumption (energy efficiency ratio). For users, it is more convenient and intuitive to calculate and select mining output; for partners, it is easier for mining machine manufacturers and mines in the market to settle in. The platform will soon launch computing power trading and multi-computing power mine direct sales business.

As BitFuFu pointed out in its product positioning when it was launched: "Standardization avoids messy conditions and multiple variable factors, which not only improves the transparency of commodity prices, but also standardizes industry standards, reduces information asymmetry between the two parties to the transaction, and increases the credibility of the industry."

The reason why the concept of cloud computing mining has been recognized by most people and quickly attracted the market's attention is that its product form has a strong market demand. As mining machine giants increase their investment in this field, the future prospects of this industry are promising.