BitNile may also want to move away from bitcoin mining because the industry has been under a lot of pressure in the past few months.
BitNile (NILE), a company that mines bitcoins, plans to set up a bitcoin-based marketplace in the first half of 2019. This will make it easier to buy and sell bitcoins.
According to an announcement made on Thursday, BitNile wants the marketplace to be a multi-vendor e-commerce platform that can be accessed through a mobile or web app and can offer many services, including payment processing.
The goal of the Las Vegas-based company is to make buying and selling with bitcoin more appealing by making it easier and by charging lower fees than traditional e-commerce.
BitNile may also want to move away from bitcoin mining because the industry has been squeezed in recent months by the low price of bitcoin and high energy costs, which have cut into mining firms’ profit margins.
Milton “The Executive Chairman of BitNile Holdings, Inc., Todd” Ault, III, said, “We are excited to launch this new division, which is based on our more than four years of experience as investors and operators of bitcoin mining and data centers.
Since products and technology are always changing in the digital mining space, it can be hard to find your way around. We think it’s important to work with a team that is focused on managing these changes and coming up with solutions that work in the real world.”
Ault said: “We’re excited to use our connections and knowledge of the industry to build a strong one-stop shop for all things crypto. We’re happy to help grow the cryptocurrency mining market in North America, and we think we can help our customers find miners, power, and everything else they need to run a successful business.”
This week, the Bitcoin network‘s mining difficulty jumped to an all-time high, making it harder than ever for miners to get new bitcoin. This makes the situation look even worse.
