Navier brings Bitcoin mining to Ethereum with Reactor.xyz Marketplace
Navier, the leading expert in mining digital currencies in North America, announced today the launch of Reactor.xyz, a first-of-its-kind Web3 platform that marks a seismic shift in the digital asset industry.
Reactor.xyz enables qualified individuals, companies, and institutions to simply and easily purchase access to enterprise-grade bitcoin mining operations through a novel approach that uses ERC-721 tokens on the Ethereum blockchain to represent ownership of the hashpower. These tokens can then be assigned to a mining pool of the user’s choice and mining begins within minutes. Currently, access can be purchased for 120 terahashes across 120 days.
“We have been working on Reactor.xyz for a long time and are excited to finally bring it to market,” said Navier CEO Josh Metnick. “Bitcoin mining has long been far too difficult for most to access, or understand, this is no longer the case.”
Bitcoin mining being on Ethereum makes it a tradable asset that can be held in any Web3 wallet, bringing liquidity to a notoriously illiquid market sector. In essence, Navier has created an entirely new asset with the launch of Reactor.xyz.
To this point, would-be Bitcoin miners had to first identify which machine they wanted, then wire money to far flung destinations that most people could not likely find on a map, and then wait months for their rigs to arrive. They then had to either sign co-location agreements with mining farms to host their equipment, and then constantly check to ensure their machines were always online, or they had to do the complicated math to figure out their mining breakeven point at local electricity rates.
Reactor.xyz’s elegant solution enables more than just buying, selling, and trading of Bitcoin mining hashpower, it also uses proprietary algorithms to ensure users are made whole from any potential losses suffered during downtime or planned curtailments – bitcoin that would have been mined while your mining pool was offline is automatically added into your account.
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