In a press statement, Bybit said the mining-as-a-service (MaaS) service offers regular crypto enthusiasts a chance to mine ether (ETH) without the need for specialized mining hardware. According to the company, the cloud mining solution also eliminates the challenges of complex technologies and expensive power for novice miners. The new product, which comes with flexible subscription plans, will cater to retail investors and large-scale enterprises. The subscription is into 7, 21, and 42-day plans, and users can mine with as low as $100. Elsewhere, Bybit which controls a daily trading volume of about $20 billion, added that supply and price of the computer system, operation, and maintenance cost might impact profitability.
Bybit to cover downtimes
Furthermore, in case of any malfunctions, Bybit will risk the mining process to avoid any impact on the returns. Investors are eligible for the 100% usability guarantee, with Bybit committing to cover any downtime. The cloud mining service follows the Bybit ByFi product suite recently launched to increase the exchange’s offerings. The product comes as ethereum continues to attract more attention in the crypto space. By press time, the asset was trading at $3,480 hitting new all-time high price levels according to data provided by CoinMarketCap.
