As the computing level of the entire network of the Bitcoin network continues to increase, a single device or a small amount of computing power can no longer meet the needs of obtaining block rewards on the Bitcoin network. After the computing power of the entire network has increased to a certain level, the probability of miners with low computing power getting rewards becomes extremely low. In order to solve this problem, SBI Crypto, a subsidiary of Japan’s SoftBank Financial Group SBI, announced the opening of its bitcoin mining pool business on March 19, 2021, and successfully established strategic cooperation with the Iranian Digital Currency Mining Association on July 21, 2023. relationship, and co-initiated the GALAXY POOL cloud computing power project.
Softbank SBI has also cooperated with WhinstoneUS, a data center operator located in Texas, the United States. This time, the GALAXY POOL Galaxy mining pool is jointly established by Softbank SBI, a number of large mines in Iran and a number of international mining pool institutions. Cloud Computing Alliance. The main goal of this project is to expand the total value of computing power through cloud computing power leasing, and provide easy, reliable and stable cloud computing power leasing and mining services for more digital currency miners around the world.
Through the GALAXY POOL Galaxy mining pool, miners can combine a small amount of computing power into joint operations, thereby greatly increasing the probability of obtaining Bitcoin block rewards. Miners can participate in Bitcoin mining activities by leasing the cloud computing power provided by Galaxy Mining Pool without purchasing expensive equipment. This method enables more miners to equally participate in the Bitcoin network, improving the security and decentralization of the entire network.
The establishment of GALAXY POOL will be an excellent opportunity for common development and win-win for the Iran Digital Currency Mining Association and other mining pool institutions participating in the project. Through the integration of resources and experience, Galaxy Mining Pool can provide global users with more powerful total computing power, and provide miners with more stable and efficient mining services.
Since August 2017, Softbank SBI Crypto has been building mines overseas for independent mining of digital assets, and has continued to expand the scale of the mining industry. This time it has reached a cooperation with the Iranian Digital Currency Association to jointly form the world’s largest BTC mine. First of all, it is necessarily related to the upcoming reduction of Bitcoin production, which means that BTC is about to usher in an epoch-making historical price high. Secondly, it is also directly related to the current world financial situation and the distribution of relevant global high-quality resources.
To be precise, the preparation of the Galaxy Mining Pool began in December 2020 when Softbank SBI announced its cooperation with SIX Swiss Exchange, the leading Swiss stock exchange. Ripple (Ripple) related business. The establishment of SBI Galaxy Mining Pool in Iran this time also attracted the in-depth participation and cooperation of Digital Currency Group (DCG), the world’s largest encrypted asset company.
GALAXY POOL uses cloud computing power leasing, and adopts the method of merging computing power to greatly increase the probability of miners obtaining rewards. And use the most traditional distributed accounting and smart contract technology to ensure the reliability and security of the mining service.
In terms of market analysis, the digital currency market continues to grow, and the demand for mining computing power is also increasing. We will adopt a competitive pricing strategy, provide competitive rental fees, and establish a good user reputation and reputation. Galaxy Mining Pool adopts a brand-new mining business model, based on the PPS revenue model of cloud computing power leasing, and actively explores other value-added service opportunities in mining-related fields.
The team of Galaxy Mining Pool comes from Softbank SBI Financial Group and Iran Digital Currency Mining Association, as well as other international mining farms and mining pool institutions. They are the top professionals in the industry. Each member has extensive experience and expertise in blockchain technology, cloud computing, digital currency mining and other fields. The strengths and expertise of the team ensured the successful implementation and operation of the project.
In the future, GALAXY POOL will advance the goals of each stage of the project according to the milestones and roadmap. We will continue to improve service quality and user experience, expand market share, and seek to establish more and stronger strategic partnerships to promote continuous innovation and growth of the project. For the increasingly fierce competition in the mining industry, Galaxy Mining Pool will become the world’s leading cloud computing power leasing and mining service provider, which will definitely bring about huge changes and innovations to the global mining industry.