Binance Pool launches the fund for $500 million to support the mining industry – Bits Media

Binance Pool mining pool announced the launch of the initiative for $500 million, in which mining companies will support, and also attract suppliers of cloud services for cryptocurrency mining.

The Fund will issue loans for the development of mining companies. Deadline the loan will be from 18 to 24 months, and bets will vary from 5% to 10% annual. Mining companies can use securities to ensure a loan, Physical or digital assets.

As for suppliers of cloud capacities, Binance Pool is going to launch cloud mining products, Therefore, within the framework of the initiative, it attracts suppliers of cloud services. The Binance Pool statement says:

“As one of the leading pools for the extraction of cryptocurrencies, Binance Pool is responsible for maintaining an ecosystem of digital assets. In the light of current market conditions, Binance Pool launches a lending project for $500 Milln to support crypto -agents and digital infrastructure suppliers. This is the first project of this kind for the company, but it was developed taking into account the safe provision of funds as state, and private organizations ".

Recall, that at the end of September, Binance Pool added the possibility of extracting the Etherpow Etherpow (Eth).