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Alex Zhao, CEO of SHG, said that the partners "share SHG's vision of bringing exchange-level liquidity to mining power and bridging real-world mining to the DeFi world. Their rich experience and collaborative approaches in industrial scale mining will be greatly complementary to SHG."
The partners will be working with SHG to tokenize a total of 25 PH/s of Bitcoin hashrate into their BTCST. The institutions will be pooling their expertise to provide assured continuity and the skills needed for BTCST. "As the operator of some of the largest hydropower cryptocurrency mining facilities, we applaud the innovation of the BTCST project," said Jiwei Zhu, Chairman of Hengjia Group.
With its successful debut on Binance Launchpool, BTCST has become the benchmark hashrate token with deep market liquidity and price premium. BTC.TOP CEO, Zhuoer Jiang, said that "mining is an asset intensive industry. BTCST has turned mining machines into high liquidity assets as Grayscale does to Bitcoin, injecting incremental value into the mining market."
The partners echoed the positive sentiment towards this new development in mining products.
"BTCST is really exciting," said Rene Hennen, COO of Genesis Mining, "It is one of the rare inventions which expands the Bitcoin ecosystem with the potential to add a lot of value." One facet of the BTCST that raises interest is the element of DeFi in mining, which has yet to be seen in bitcoin mining. "
We believe a project like BTCST should focus on decentralization of hashrate sourcing," said Cathy Yu, CMO of Easy2Mine. This point of view is shared by CEO of Atlas Mining, Tony Ma, who said that "BTCST has connected Bitcoin mining to the DeFi world," and that "with BTCST, we can earn real BTC via crypto-native staking."
According to the SHG whitepaper, the team aims to roll out BTCST token issuance in batches, as well as acquire and construct mining facilities within 2021.
For more information on BTCST and Standard Hashrate Group, please visit the official website.
About Standard Hashrate Group
The program team of Standard Hashrate Group consists of mining veterans who have accumulated years of experience constructing and managing mining sites in the greater China region, including some of the largest cloud mining providers in the world, as well as institutional miners. Standard Hashrate Group introduced the Bitcoin Standard Hashrate Token (BTCST) to bring exchange grade liquidity, and increase participation in Bitcoin mining. By collateralizing real Bitcoin mining power, Standard Hashrate Group paves a new path in mining Bitcoin the DeFi way. Official Website: https://www.1-b.tc
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source http://www.acnnewswire.com/press-release/english/64139/