CoinMine Now Allows Mining Enthusiasts To Be Paid In Bitcoin (BTC)

  • As things stand, Coinmine One is still in its testing phase — as a result of which fixed monthly returns are still not guaranteed on any mining activities carried out through the use of the machine.
  • The device is currently priced at $799 ($699 with a special BTC discount).
  • According to an all-new press release issued recently, Coinmine — a crypto mining rig that is aimed primarily at casual altcoin enthusiasts – will now provide its users with the option to be paid in Bitcoin [BTC].

For those of our readers who may not be aware, the device previously allowed owners to only mine selected alt-assets such as monero, zcash, grin and ethereum. However, the rig now allows users to receive their payouts in BTC.

Additionally, according to the firm's founder, Farood Nivi, Coinmine One comes preloaded with the latest version of MineOS – as a result of which the device has the innate ability to convert its mined crypto-assets into BTC at the highest rate possible (before transferring them into the owner’s linked wallet address.)

Talking about his company’s latest offering, Farood was quoted as saying:

“This way you’re getting way more Bitcoin than if the device was mining Bitcoin directly.”

In a recent interview with a respected media outlet, Nivi stated that Coinmine is essentially an experimental tool for miners who are looking to enter this burgeoning market space.

  • The device offers users with a less energy-intensive mining option when compared to other traditional rigs available in the market today.
  • From a purely numbers standpoint, we can see that CoinMine One currently has the ability to generate anywhere between $15-20 worth of BTC per month. With that being said, it should be pointed out that these numbers purely depend on the future market performance of the flagship crypto coin.
  • A number of experts believe that CoinMine is one of the cheapest/ fastest ways for mining enthusiasts to make use of BTCs Lightning Network.
  • In closing out this piece, it should be mentioned that the Coinmine One mining rig will undergo its latest BTC upgrade within the next 24 hours.

As per Farood Nivi — the founder of CoinMine — the firm will be partnering with Compound Finance, Cred, and Blockfi so as to help their core clientele reap maximum returns on their already mined crypto-assets.

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Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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