KuCoin launches cloud mining platform for BTC, DOGE and LTC

KuCoin has officially launched its crypto mining platform called KuMining, a cloud mining operation with up to 10% of the Dogecoin network hashrate.

KuMining, KuCoin said in an announcement shared with crypto.news, will offer a cloud mining platform tailored to industrial-scale mining of Bitcoin (BTC), Dogecoin (DOGE) and Litecoin (LTC). 

KuMining, built in collaboration with mining hardware manufacturers, operators, and energy firms, launches with 10 exahashes per second of BTC hashrate. It also boasts 200 terahashes per second of computational power for DOGE/LTC.

This capacity represents 10% of the Dogecoin network hashrate and allows merged mining with Litecoin, a proof-of-work coin that uses the Scrypt hashing algorithm.

“We are immensely proud to introduce KuMining, a platform that equalizes opportunities in cryptocurrency mining,” said Jolie Du, chief operating officer of KuMining. “Users can rent genuine hashrate from professional facilities, with daily yields automatically credited, eliminating hardware acquisition, energy management, and maintenance complexities.”

According to Du, KuMining offers low-barrier access to crypto mining, allowing for an ecosystem that supports market participation for those without the technical resources to tap into this opportunity.

You might also like: Coinbase to launch futures product tracking Mag7 stocks and crypto

KuMining targets retail investors

KuMining is backed by 300 megawatts to 2 gigawatts of power resources, with this capacity spread across verified global sites. Scalability also means its capacity expands rapidly, with more added monthly.

Users can begin renting real DOGE/BTC hashrate on Sept. 16 and benefit from daily outputs. The project also allows for risk management and dollar-cost averaging into digital assets without worrying about market volatility.

“KuMining’s incubation reaffirms our community commitment, advancing ‘crypto for good’ by bringing hashrate back to retail investors at competitive costs,” said BC Wong, chief executive officer of KuCoin. “By decentralizing mining power to real users, it builds an inclusive Web3 where assets can accumulate passively.”

KuMining integrates with KuCoin’s ecosystem, allowing users to receive rewards via the native token KCS.

Dogecoin is the second-largest PoW coin by market capitalization behind Bitcoin, while Litecoin is fourth-largest behind Bitcoin Cash. Other proof-of-work coins include Monero, Kaspa, and Ravencoin.

You might also like: CleanCore Solutions raises $175m to establish a Dogecoin treasury