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Lumerin Hashpower Marketplace Launches, Delivering Peer-to-Peer Trading of Bitcoin Mining Capacity
[September 21, 2023]

Lumerin Hashpower Marketplace Launches, Delivering Peer-to-Peer Trading of Bitcoin Mining Capacity

The Lumerin Hashpower Marketplace will officially launch on September 26th, unlocking global access to Bitcoin mining hashpower for Web3 users.

Launching on September 26th on the Arbitrum One network, the Lumerin Hashpower Marketplace represents the next step towards the greater decentralization of Bitcoin mining. Bitcoin miners will have a frictionless path toward buying and selling mining capacity, and non-miners will be able to participate in the same marketplace.

Smoothing the "Peaks-and-Valleys" for Bitcoin Miners' Operations

Through the Lumerin Hashpower Marketplace, miners can sell their hashrate through smart contracts, specifying hashrate amount, duration, and price. This contributes to business predictability and de-risking, enabling them to set fixed prices that provide regular earnings.

Conversely, miners can use the Lumerin Hashpower Marketplace to purchase hashpower from other miners. This allows miners to increase their chances for earning bitcoin rewards without purchasing rapidly depreciating equipment. These buyers can easily browse and select contracts that suit their needs, secure in the knowledge that they are engaging in direct, trustless transactions and paying in real-time as the contract is completed.

In either scenario, the Lumerin Hashpower Marketplace helps provide additional predictability to their revenue streams. Further, miners in low-electricity-cost areas could arbitrage those below-average prices through selling hashrate contracts at market prices, keeping the difference.

Mining: Anyone, Anytime, Anywhere

Through the Lumerin Hashpower Marketplace, users can mine bitcoin without the need for highly specialized knowledge, costly hardware outlays, or long-term commitments. With the Lumerin Wallet and detailed documentation, users can buy hashpower contracts, route that hashpower to their pool, and earn mining revenue directly.

Unlocking Access to Mining for a More Decentralized Bitcoin

Founder Ryan Condron explained the potential impact of the Lumerin Hashpower Marketplace's launch: "Today marks a milestone in our journey to re-democratize mining," says Condron. "With the Lumerin Hashpower Marketplace now live, we are starting to restore the decentralization of the Bitcoin mining landscape by providing a direct, accessible path for everyone to be part of the mining ecosystem."

The choice of launching on the Arbitrum One network underscores Lumerin's commitment to user experience, offering users faster transactions, reduced gas fees, and a seamless experience overall.

"Bitcoin hashpower remains the basis for supporting the most secure distributed network yet devised, creating opportunities for new financial systems and so much more," said Jeff Garzik, CEO and co-founder of Lumerin partner Bloq, Inc. "Through Lumerin, professional miners and crypto enthusiasts alike will be able to participate in Bitcoin mining in ways that make the distribution of hashpower more fluid and democratized, thus bringing our ecosystem closer to its goals."

The platform's unique approach has the potential to reshape the dynamics of crypto mining, making it more accessible and appealing to a wider audience.

About Lumerin

The Lumerin Protocol is an open-source project working on decentralized data stream routing. Its first development, the Lumerin Hashpower Marketplace, is a peer-to-peer platform that makes Bitcoin hashrate tradable and liquid, unlocking mining profitability and providing greater access to capital and hashrate on a global scale.


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