Lumerin to launch Arbitrum-based Bitcoin hash-power marketplace

The Lumerin project is preparing to launch a decentralized hash-power marketplace for Bitcoin mining on the Arbitrum One network.

Exciting News! #Lumerin is launching a decentralized #Bitcoin hashpower marketplace on @arbitrum. Trade BTC mining hashpower without your own hardware. Ensuring trustless, real-time transactions and democratizing Bitcoin mining! #arbitrum #CryptoNews #DecentralizeMining

Full… pic.twitter.com/RNon57TtID

— Lumerin Protocol (@HelloLumerin) September 21, 2023

The new platform is designed to smooth out peaks and troughs in Bitcoin mining operations. It enables market participants to buy and sell hash rate, configuring various parameters — the hash-rate capacity, price, and contract duration.

According to the developers, all marketplace operations are peer-to-peer, in real time, and trustless. Users do not need to own their own equipment.

The service is designed to help companies manage operational risk. It allows for fixed pricing, delivering revenue predictability. The platform also reduces the need to invest in rapidly depreciating equipment, according to project representatives.

In addition, miners in regions with cheap electricity will have the opportunity to sell hash rate at global prices. By using the Lumerin Wallet, users can purchase contracts, channel hash power to their preferred pool, and receive mining proceeds directly.

Developers say the choice of the Arbitrum network is driven by a good user experience and fast, inexpensive transactions.

Official launch is scheduled for September 26.

In March, the mining company Navier launched a service for trading hash-rate-backed tokens.