Cloud mining subscriptions will be extended due to weather-related outages, according to Binance.
to an official announcement on Dec. 28. As a result of the power outage, the company announced that users' subscriptions to cloud mining products were extended for three days.
Binance has noted that further outages as a result of the weather conditions will extend the duration of cloud mining subscriptions. The exchange's cloud mining service, launched nearly a month ago, allows users without mining equipment to earn mining rewards from Binance Pool. Subscriptions are required to buy hashrates and Bitcoin mining on Binance's cloud.
During the days leading up to Christmas, a"bomb cyclone" unleashed extreme temperatures across the United States, leaving millions without electricity and claiming dozens of lives in the country.Weather conditions in Texas drove Bitcoin miners to voluntarily curtail operations to give power back to the grid, allowing residents to keep their homes warm.
Since FTX's collapse in November 2022, Binance has been surrounded by fear, uncertainty, and doubt , resulting in billions of dollars in withdrawals. While fighting rumours, the crypto exchange has continued to work on diversifying its business model. Last month, the company also announced that its venture capital arm, Binance Labs, has
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