Lately, miners affected by the recent Chinese crypto policies are on the lookout for new destinations, and the network hashrate of Bitcoin is also recovering. However, due to the short supply of mining machines in the few high-quality mining farms and the power shortage, miners in search of new mining farms will come to realize that in addition to the electricity cost, they also have to share part of the mining revenue with mining farms.
As a result, partnered mining has gained momentum. Under this model, some miners have to spend extra time calculating the dividend before transferring it to their partners. Meanwhile, the partners are also concerned with the accuracy of the dividend amount as well as the transparency and credibility of the daily revenue provided by miners. As such, an open and transparent revenue-sharing system will be the key to more trust between the parties.
To meet such demands, ViaBTC Pool has launched Revenue Sharing on September 23. With the help of this new function, miners can allocate a proportion of the mining revenue to the farm owner or mining partners in an efficient, automated, and transparent manner to streamline the cooperation.
Before getting started with Revenue Sharing, miners should first invite their partners to register a ViaBTC account, which can then be added as Revenue Receivers through Revenue Sharing with predetermined ratios. After completing these steps, the daily revenue of miners will be normally distributed into their accounts. However, ViaBTC will lock the revenue, which would not be available for automated/manual conversion, automated/manual withdrawal, internal transfer, CoinEx trade, hedging/staking, etc. The next day, ViaBTC will settle the revenue generated from 16:00 the day before to 16:00 this day (UTC) and distribute the due part to the receiver accounts.
When setting up Revenue Sharing, miners can create different settings for different accounts and tokens. For miners, the function supports both the main account and sub-accounts, whereas the receiver account must be the main account, and each miner can only be linked with no more than 5 receivers. Right now, the new function supports 18 tokens and covers revenue from merged mining (for DOGE only).
When using Revenue Sharing, miners can change the receiver account and revenue proportion. After the changes take immediate effect, ViaBTC will send miners and receivers prompt email notices concerning the specific changes.
Focusing on the need of miners, ViaBTC Pool is always committed to the provision of more secure and stable pool services that yield higher returns. The innovation of Revenue Sharing saves the time needed for revenue allocation. In particular, the automated distribution of revenue reassures both miners and partners and enables more transparent and efficient cooperation. As the world’s third largest BTC pool and the second largest BCH pool, ViaBTC Pool serves over 1 million users across 130 countries and regions, and aims to provide high-quality and high-yield mining services for more miners.