River Financial today launched River Mining, an investment-grade bitcoin mining product that manages all the aspects in the mining process, from hardware procurement to data center hosting, according to a press release sent to Bitcoin Magazine.
“The Bitcoin mining industry has shifted from once being able to profitably mine Bitcoin from a laptop in your home to requiring industrial-scale mining operations,” said Alex Leishman, River CEO. “In recent years, only the largest players have had access to the returns of institutional Bitcoin mining. River Mining changes that.”
Customers can purchase mining machines within personal or entity accounts at River, while the company takes care of procuring the rig, hosting it in a top-tier U.S.-based data center, integrating it with a mining pool, and maintaining maximum up-time and performance. River Mining also allows clients to monitor the performance of their bitcoin mining portfolio and individual miner output.
The offering was first announced in October, and the company is now expanding the scope of its mining product as it brings thousands of mining machines online in Q2 2022. River said it also has agreements in place to grow River Mining to tens of thousands of rigs in the coming year. The company said it currently has hundreds of bitcoin mining clients, ranging from individuals with just one rig hashing to family offices and investment funds with fleets of mining rigs.
“Our mission is to accelerate the adoption of Bitcoin,” Leishman said. “River Mining is an important step towards our vision to provide easy-to-use financial products to grow Bitcoin wealth.”
River began as a bitcoin brokerage company focusing on security, custody, and client service. Now, with the full release of River Mining, the company tip-toes into the industry with the same principles. Moreover, the suite of products offered by River now encompass brokerage, custody, and mining offerings that are all accessible on the company’s website and mobile app.