Bitcoin miners to get instant non-custodial rewards via Lightning Network
Enterprise Bitcoin mining pool company Titan Mining has announced Titan Lightning, intending to transform how Bitcoin miners receive rewards by empowering miners with near-instant access to their earnings.
Using the Lightning Network, Titan Lightning facilitates direct on-chain disbursement of rewards to miners’ non-custodial wallets after every new block discovery on the Bitcoin network. This departs significantly from delayed payouts associated with custodial mining pools.
Titan Mining CEO Ryan Condron explained, “At Titan, we believe in empowering miners worldwide. The Titan Lightning solution offers immediate access to mining rewards, enhancing liquidity and putting control back in the hands of miners.” The integration of the Lightning Network allows miners to receive block rewards every ten minutes with no minimum payout.
Further, Titan Lightning’s integration with the Lumerin Hashpower Marketplace aims to democratize access to Bitcoin mining. Founded by the same team as Titan Mining, Lumerin provides a peer-to-peer platform for trading mining capacity, meaning non-miners can also participate and experience the potential benefits of accelerated Bitcoin payouts. As Lumerin reported, this development positions Bitcoin mining hash power as a unique, real-world asset for global on-chain exchange.
The Titan Lightning mining pool and Lumerin integration present a novel application of Bitcoin hash power, which Titan describes as
“Bitcoin now” is more valuable than “Bitcoin later.”
Miners will now be able to receive payment “near-instantly as soon as a new block is recorded on the Bitcoin blockchain.” As the Bitcoin halving draws near, focus and interest in Bitcoin mining will likely increase as it does each cycle. While ASIC miners are still in short supply, the ability to participate in hash power marketplaces and use Lightning payments is a fascinating concept for new users to explore.
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