Seychelles-based crypto exchange KuCoin is launching a mining pool aimed at providing acquirement to proof-of-piece of work miners after integrating their rigs.

In a Midweek annunciation, the exchange said its KuCoin Pool product would let miners around the world to contribute to the Bitcoin (BTC) and Bitcoin Greenbacks (BCH) and share rewards. At the moment, miners are required to install and run the necessary hardware themselves to join the pool, merely KuCoin said it would introduce mining in the cloud in the future.

KuCoin CEO Johnny Lyu also claimed the pool would be encouraging miners to participate in environmentally-friendly solutions — people using renewable energy sources for mining will receive discounts on fees. The movement is seemingly part of a shift in many mining firms beginning to transition to cleaner or renewable free energy.

"For existing KuCoin users, it will go straightforward to set up their mining devices to generate passive income correct away," said Lyu. "Miners tin benefit from the one-finish mining service platform and its features to get up and running very quickly."

The exchange is coming in tardily to mining when compared with major firms similar Binance, which launched its mining pool in Apr 2022. Co-ordinate to blockchain data, some of the largest BTC miners include Antpool — owned by Chinese mining behemothic Bitmain — Poolin, ViaBTC, and F2Pool.

Related: Are KuCoin Shares overvalued after KCS toll gains 100% in 1 calendar month?

Launched in 2022, KuCoin reported this week that it had reached ten million users, having risen by i,114% in the last yr. Final year, hackers stole roughly $275 million from the exchange earlier KuCoin was able to recover the majority of the funds.