DigitalBTC Launches Mining Contracts Platform DigitalX Mintsy

Australian firm digitalBTC has launched digitalX Mintsy, a service that allows users to lease and trade processing power for cryptocurrency mining.

AccessTimeIconMar 3, 2015 at 12:36 p.m. UTC
Updated Dec 12, 2022 at 1:42 p.m. UTC

Australian bitcoin company digitalBTC has launched digitalX Mintsy, a new service that allows users to lease their computer processing power for cryptocurrency mining and trade contracts via its online marketplace.

The service allows users with specialised cryptocurrency mining equipment to lease their hashing power to others. Contract buyers are able to apply this computing power across multiple algorithms and mining pools.

Contracts for come in a variety of configurations called 'hashflexs' (100 GH/s, SHA256 algorithm), 'liteflexs' (100 MH/s, scrypt algorithm) and 'xflexs' (100 MH/s, x11-15 algorithm).

Once bought, contracts can be traded on Mintsy's marketplace.

DigitalX Mintsy
DigitalX Mintsy

Zhenya Tsvetnenko, digitalBTC's executive chairman, said:

"We are extremely excited by this new consumer launch. DigitalX Mintsy is a long term investment which supports an integral part of the digital currency ecosystem – transaction verification and processing. This is is the crucial backbone of all digital currencies, including bitcoin."

DigitalBTC started out as a bitcoin mining company and was notably the first bitcoin firm to be listed on the Australian Securities Exchange. However, its focus shifted to developing alternative products following bitcoin's decline in value.

DigitalX Mintsy is the first of these new products and has received "over 30,000 pre-enrolments", according to the company.

Exchange partnership

With the news, DigitalBTC also announced a partnership with exchange Cryptsy, which will "actively promote digitalX Mintsy to its customer base of over 250,000 registered users".

Individuals using the digitalX Mintsy platform are now able to deposit their digital coins into their Cryptsy wallet.

The cryptocurrency exchange previously confirmed that it would invest $250,000 in the Australian firm in September last year.

Paul Vernon, Cryptsy CEO, spoke to CoinDesk at the time, saying that the goal of the new platform was to offer the trading community a broad range of investment services.

DigitalBTC has also confirmed plans to launch digitalX Pocket, a mobile application that will give consumers the chance to immediately transfer and settle funds.

Image via Shutterstock.


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