River Financial today launched River Mining, an investment-grade bitcoin mining product that handles all aspects of the mining process, from hardware sourcing to data center hosting, according to a press release sent. at Bitcoin Magazine.
“The bitcoin mining industry has evolved from being able to profitably mine bitcoin from a laptop at home to industrial-scale mining operations,” said Alex Leishman, CEO of River. “In recent years, only the biggest players have had access to returns from institutional Bitcoin mining. River Mining changes that.
Customers can purchase mining machines in personal or entity accounts at River, while the company takes care of procuring the rig, hosting it in a leading US data center, integrate with a mining pool and maintain maximum uptime and performance. River Mining also allows customers to monitor the performance of their bitcoin mining portfolio and the production of each miner.
The deal was first announced in October, and the company is now expanding the reach of its mining product by bringing thousands of mining machines online in the second quarter of 2022. River said it also has deals in place. to expand River Mining to tens of thousands of rigs. in the coming year. The company said it currently has hundreds of bitcoin mining customers, ranging from individuals with a single hashing rig to family offices and investment funds with fleets of mining rigs.
“Our mission is to accelerate Bitcoin adoption,” Leishman said. “River Mining is an important step towards our vision of providing easy-to-use financial products to grow Bitcoin wealth.”
River began as a bitcoin brokerage firm focused on security, custody, and customer service. Now, with the full release of River Mining, the company is entering the industry with the same principles. Additionally, the suite of products offered by River now includes brokerage, custody and mining offerings which are all accessible on the company’s website and mobile app.