WhitePool by WhiteBIT Hits Top 15 Mining Pools at Launch

[PRESS RELEASE – Vilnius, Lithuania, August 8th, 2024]

WhiteBIT, one of Europe’s largest crypto exchanges, has announced the launch of a new product—the WhitePool mining pool. This innovative platform marks a significant step in the development of WhiteBIT ecosystem and opens up extensive opportunities for professional miners.

The global cryptocurrency mining market is set for growth, with its market size expected to reach approximately $2.45 billion in 2024 and a projected compound annual growth rate (CAGR) of 12.90% through 2032. As the cryptocurrency sector continues to evolve, Bitcoin miners are seeing daily returns currently at $30.72 million—a 6.27% increase compared to the previous year. This growth underscores the potential and expanding opportunities within the cryptocurrency mining industry.

To cater to professional miners seeking an efficient and streamlined cryptocurrency mining solution, WhiteBIT crypto exchange has introduced its own mining pool, WhitePool. Featuring a user-friendly interface and support for the SHA256 algorithm, it ensures optimal resource allocation and potential returns for miners. Participation requires users to register on WhiteBIT exchange and connect their mining equipment.

“WhitePool prioritizes miners’ interests by offering top-tier service for efficient collective mining. Our objective was to establish a mining pool that not only meets current demands but also sets a new benchmark for the industry, expanding opportunities for the mining community and evolving alongside them,” said Volodymyr Nosov, CEO of WhiteBIT.

Following its successful launch, WhitePool is currently featured in the top 15 mining pools ranking due to its high hashrate and benefits for users.

Functional and Clear Interface

An essential feature of WhitePool is its user-friendly interface and comprehensive functionality for monitoring equipment and tracking rewards. Users can easily monitor equipment status and set notifications for changes in worker states.

Accrual of Rewards Without Additional Fee

Typically, users must reach a minimum BTC amount, manually initiate fund transfers, wait for processing, and manage wallets to receive rewards. With WhitePool, rewards are automatically credited in Bitcoin (BTC) to the user’s main exchange balance without any additional steps. This eliminates the need for manual fund transfers, waiting for transaction processing, and paying network fees.

FPPS Reward Model

WhitePool operates on the FPPS (Full Pay Per Share) reward model. FPPS ensures miners receive rewards for each share contributed, regardless of whether the pool finds a block. This approach guarantees a predictable rewards stream, as payouts are made based on each share contributed, irrespective of the pool’s success in finding blocks.

VIP Program for High-Power Miners

The VIP program offers several benefits, including reduced commissions, stable rewards for miners using powerful equipment, and additional features to be announced soon.

All users who connect their equipment to WhitePool from August 1 to August 31 will receive VIP status for two months (from August 1 to September 30) and enjoy a 50% discount on the commission, paying only 1%. The standard fee is 2%.

Professional Multilingual Support Team Available 24/7

The expert support team is available 24/7 to assist miners in English, Spanish, Turkish, and other languages for seamless communication.

WhitePool is an integral part of the WhiteBIT crypto exchange infrastructure, recognized as one of the top 3 most secure exchanges through audit by Hacken.io.

About WhiteBIT

WhiteBIT is one of the largest European centralized crypto exchanges founded in 2018. The exchange offers 520+ trading pairs, 270+ digital assets, and 10 state currencies. The company is an official partner of the Ukrainian national football team, FC Barcelona, FC Trabzonspor, FACEIT. The goal of WhiteBIT is the mass implementation of blockchain technology worldwide.