Japan's SBI opens its bitcoin mining pool for the public

Bitcoin • March 19, 2021, 4:55AM EDT

UPDATED: March 19, 2021, 5:02AM EDT

SBI Crypto, a wholly-owned subsidiary of Japan's SBI Holdings, has opened its bitcoin mining pool for the public.

The move means institutions and individuals looking to mine bitcoin and other cryptocurrencies can join the SBI Crypto Pool service.

SBI Crypto has been self-mining bitcoin, bitcoin cash, and bitcoin SV since August 2017. Its bitcoin mining pool is currently ranked eleventh and has a hashrate of 2.44 exahash per second (EH/s), per BTC.com.

SBI Crypto said part of its pool's service had been developed with its partner Northern Data AG to complement data center management services. SBI first partnered with Northern Data last July by becoming its strategic shareholder.

The SBI pool appears to be the second well-known pool to open for the public after Digital Currency Group's Foundry. After months of operating its pool in private beta mode, Foundry last week opened its public service.

Bitcoin miners have been raking in millions of dollars in revenue given the cryptocurrency's recent rally. According to data compiled by The Block, bitcoin miners made an all-time high revenue of $1.36 billion in February. For this month so far, their revenue has been nearly $1 billion.

Bitcoin is currently trading at around $58,500, according to TradingView.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.