Initially announced by the crypto news platform Coinlife, the mining pool will launch sometime in the second quarter of this year. The news story also states that Binance has recruited more hands to see to this launch. The company is reportedly trying to get miners in China to help spread the word. Binance is also trying to attract clients by offering very attractive bonuses.
Pooling vice president Alejandro de la Torre has given his thumbs-up for crypto exchanges that run their own mining pools. According to him, mining is the most cost-effective way these exchanges can improve their liquidity.
Binance Futures recently announced that its 24-hour Bitcoin trade volume surpassed that of derivatives giant, BitMEX.