US's First BTC Mining Derivative Launches on Regulated Exchange
CryptoNewsTerminal Staff28 May, 2024
US's First BTC Mining Derivative Launches on Regulated Exchange
The United States has launched its first regulated Bitcoin (BTC) mining derivative on a regulated exchange. This is a significant development for the cryptocurrency industry, as it provides miners with a new way to hedge their revenue and provides investors with a new way to gain exposure to the Bitcoin mining market. The Bitcoin Hashrate Futures (ticker: HUP) was launched by Luxor Technologies, a crypto mining service provider, and Bitnomial, a crypto derivatives exchange. The futures contract is designed to allow miners to lock in a price for their future hashrate, which is the amount of computing power they contribute to the Bitcoin network. This can help miners to reduce their risk of losing money if the price of Bitcoin falls. The futures contract is also expected to increase liquidity and transparency in the Bitcoin mining market. This will make it easier for miners to find buyers for their hashrate and for investors to get involved in the market.
