LAUNCH | HashLabs, Currently Operating in Ethiopia, Supports the Launch of a Decentralized Mining Pool for Institutional Bitcoin

Decentralized Bitcoin (BTC) mining pool, Loka Mining – in partnership with sustainable energy mining provider, Hashlabs, which currently operates in Ethiopia, Finland, and Russia – has announced the launch of a unique protocol with decentralized mining pool that provides miners with immediate liquidity by allowing them to sell their future mining rewards to institutional investors at a discount.Key takeaways:

• Investors gain access to bitcoin at below market rates via forward hashrate contracts directly from miners
• Miners have immediate access to liquidity and can hedge against market volatility

Through this partnership, Loka is set to launch a permissionless protocol that offers investors access to Bitcoin below market prices via forward hashrate contracts directly from BTC miners. These contracts will be over-collateralized at 110% and tokenized for immediate liquidity in secondary markets.

“We’ve seen tremendous interest from larger investors seeking better ways to access Bitcoin, and thanks to Hashlabs’ supply of hashrate and access to miners, we’re providing that – with no counterparty risk,” said Andy Fajar Handika, Founder of Loka.

“This protocol provides non-custodial, trust-minimized access to Bitcoin that rewards miners for the work they do providing a necessary service for the network.”

Hashlabs, controlling about 500 petahashes – or 0.08% of the total Bitcoin mining capacity – supports this offering with its sustainable and cost-effective solutions.These operations span:* Finland

• Ethiopia, and
• Kazakhstan

helping reduce Bitcoin mining’s overall environmental footprint.

“We’re proud to bring more liquidity into DeFi through a mining pool that gives investors much-needed access to Bitcoin futures,” said Hashlabs Co-Founder Alen Makhmetov.

*“Just as important, we’re able to provide this service by supporting the most sustainable ways of mining Bitcoin worldwide. By ensuring the financial health of miners, we’re simultaneously improving Bitcoin’s environmental well-being.”*Loka offers near-instant, low-cost payouts to miners and liquidity for investors through its use of ckBTC, which relies on the Internet Computer’s Chain Fusion technology to directly interact with the Bitcoin network.

Chain Fusion allows smart contracts to read from and write to the Bitcoin blockchain so that Loka can verify mining contributions and transparently manage all rewards. ckBTC, a 1:1 Bitcoin-backed digital twin, facilitates extremely low-cost transactions (fees of just 10 satoshis) and non-custodial management of mining contracts and rewards.

This partnership introduces a lucrative model for the annual $10 billion Bitcoin mining industry, allowing miners to sell their future mining rewards at a discount and providing them with immediate liquidity when needed to expand operations or hedge against price volatility. This helps to reduce the financial risks associated with the fluctuating Bitcoin market and improves Bitcoin’s token liquidity, given that an estimated 10% of the total Bitcoin supply, equating to about $50 billion, is held in wallets controlled by miners.

About HashlabsHashlabs provides renewable energy Bitcoin mining resources based in Finland and Ethiopia to support the profitability and efficiency of Bitcoin mining operations while significantly reducing the network’s ecological impact.For more information: https://www.hashlabsmining.io/