BitDeer’s Unique Position in Cloud Mining

BitDeer, a cryptocurrency cloud mining company, attended the Bitcoin 2019 conference to show the world that it does things differently than other providers in the space.

“You can label us as cloud mining but we are not actually within the traditional business model of cloud mining,” CEO Celine Lu told Distributed. “We are quite different.”

BitDeer users purchase a hashrate plan from the website and leverage its relationships with different mining pools, including Antpool and BTC.com. It offers flexible plans and emphasizes the transparency made possible through real mining machines in leading facilities and direct payment from mining pools.

“This is what we do to lower the threshold of integrating users [into crypto mining],” Lu said. “A lot of users just want to buy one terahash to 50 terahashes  [of mining power].”

BitDeer feels that this flexibility and transparency are difference makers for its offerings and position in what is becoming a more crowded field of cloud mining services. Ultimately, users will appreciate the clarity around where their funds and corresponding mining power go.

“When the users purchase hashrate power on our platform, they can start mining and receive their mining rewards within ten minutes, or one block discovery,” Lu explained. “If they receive mining rewards from the platform, they will often reinvest back into our platform. BitDeer’s product design does an outstanding job of providing users a path to make the most of bitcoin mining.”

As the price of bitcoin rises, BitDeer was excited to discuss what the original cryptocurrency means for its business and the blockchain ecosystem as a whole. But, at the same time, Lu has been through crypto bear and bull runs before.

“We love that the price is going up, but we all know it’s a cycle,” she said. “We’re going to put a lot of focus on Bitcoin, but we are going to give the choice to our users… We currently provide seven types of cryptocurrency plans. But our BTC plan is our users’ favorite.”