Bitcoin-only technology and financial services company River Financial today announced the launch of its mining white-glove service, River Mining Bitcoin Magazine. The service seeks to reduce barriers to new entrants to the bitcoin mining industry, allowing any U.S. customer to start BTC mining on their own.
“Our clients want to use their money, and River Mining will enable them to earn their own bitcoin,” said Alex Leshman, CEO of River Mining. “This is a key step in our mission to accelerate the adoption of Bitcoin, the future of money.”
In the early days of Bitcoin, it was possible to mine using a regular laptop. People will let their computers run as complete mining nodes and cut some cheap BTC from time to time. However, since the launch of the first ASIC mining machine in 2012, that reality has begun to change. Over the years chips became more specialized, and the mining industry became increasingly competitive, leaving retail bitcoin miners out of the picture. But the river wants to change that.
“With River Mining, clients will own their mining hardware and the generated bitcoin will be credited directly to their River account,” according to the release. “The company has partnered with Premier US-based data centers to operate mining machines and ensure that River’s clients are using the best technology available, which will maximize their bitcoin production.”
In September, Compass Mining launched a similar service, At-Home Mining, to deliver an ASIC machine to the customer’s door as well as assist in the necessary installation to democratize access to the bitcoin mining industry.
The river takes a different approach, completely abstracting the process. Instead of hosting mining rigs themselves, River Mining customers acquire a mining fleet in a rented data center, which is integrated with their River Financial platform.