By Tyler - Crypto expert - 31-03-2021
In recent news, according to a release on March 30, mining pool companies have to follow new regulations enforced by the Office of Foreign Asset Control's (OFAC) for anti-money laundering. Marathon, an American-based company that aims to establish the largest crypto mining corporation in the U.S., is making crypto headlines for redirecting all of its hash power to a new compliant Bitcoin (BTC) mining pool. Since its power diversion, the Marathon Digital Holdings company declared that its pools are fully compatible with the updated U.S. rules.
Marathon Digital Holdings is the first Bitcoin mining pool to be launched in North America. The company provides the necessary computing power needed to mine Bitcoin investments. Aside from mining the most significant crypto market investment, Marathon Digital Holdings also has been buying Bitcoin and reportedly holds over 5,000 BTC. Since the release of the new regulations, Marathon has gone above and beyond to ensure that it follows all rules to mine Bitcoin legally. The company utilises its native technology to put in place the necessary transaction mechanics that match the new rules.
According to Marathon Digital Holdings, they plan to devote 100% of its current hash power to the new pool by May 1. After June 1, the company aims to accept added hash power from outside sources. Marathon plans to deploy at least 100,000 miners to send 10.37 exahashes per second to the Bitcoin pool by the end of the year.