KuCoin is launching a cloud mining platform called KuMining, aiming to capture 10% of Dogecoin’s mining capacity. This platform will provide both retail and institutional investors with access to a verifiable hashrate backed by global mining facilities, which have power resources ranging from 300 megawatts to 2 gigawatts.

KuMining will allow users to invest in Bitcoin and Dogecoin hashrates, as well as merged mining for Litecoin. The platform will start with a hashrate of approximately 10 exahashes per second for Bitcoin and 200 terahashes per second for Dogecoin and Litecoin, making it the fourth-largest Dogecoin mining entity, after F2Pool, ViaBTC, and AntPool.

F2Pool is currently the largest, controlling over 33.1% of the Dogecoin network’s hashrate. KuCoin’s initiative intends to decentralize mining capacity and encourage accessibility for those without technical resources, promoting stable participation in cryptocurrency mining. The purchase of hashrate will start on September 16. KuCoin is the ninth-largest cryptocurrency exchange, with substantial daily trading volume and active users.

KuCoin’s KuMining platform represents a significant step in expanding access to cryptocurrency mining, potentially reshaping Dogecoin and Bitcoin mining dynamics.