Cancel Preloader
Please enter CoinGecko Free Api Key to get this plugin works.

Loka Launches Bitcoin Mining Pool for Institutional Investors With Support From Hashlabs

 Loka Launches Bitcoin Mining Pool for Institutional Investors With Support From Hashlabs

Investors gain access to bitcoin at below market rates via forward hashrate contracts directly from miners.

Miners have immediate access to liquidity and can hedge against market volatility.

45:11

Bitcoin’s Price Is Way Up. And $48 Trillion in Wealth Just Got Access

08:42

Bitcoin Ecosystem Developments in 2023 as BTC Hits Fresh 2023 High

01:10

Bitcoin Extends Rally as $1B in BTC Withdrawals Suggests Bullish Mood

1:02:43

Why Financial Advisors Are So Excited About a Spot Bitcoin ETF

Loka Mining has launched a protocol with a decentralized bitcoin (BTC) mining pool that allows miners to sell their future rewards to institutional investors at a discount and gives them instant access to cash for operational use.

The product, in collaboration with sustainable miner Hashlabs, is likely to appeal to companies whose revenue has been hit by the recent halving, and offers a way of hedging against market volatility.

Loka will launch a permissionless protocol that gives investors access to bitcoin at below-market prices through forward hashrate contracts directly from the miners, the company said in a Tuesday press release. The contracts will be overcollateralized and tokenized for immediate liquidity in secondary markets, Loka said.

“We’ve seen tremendous interest from larger investors seeking better ways to access bitcoin, and thanks to Hashlabs’ supply of hashrate and access to miners, we’re providing that – with no counterparty risk,” said Andy Fajar Handika, founder of Loka, in the release.

“This protocol provides non-custodial, trust-minimized access to bitcoin that rewards miners for the work they do providing a necessary service for the network,” Handika said.

Loka’s investors and backers include BTC Startup Lab, Dfinity Foundation, Outlier Ventures and Kilonova Ventures.

Edited by Sheldon Reback.

  

Will Canny

Related post

Leave a Reply

Your email address will not be published. Required fields are marked *