Poolin Eyes Mining Pool’s Expansion to Europe
From China to Europe, one of the fastest-rising mining pools is forging a push into the international market. Dubbed the world’s largest Bitcoin mining pool, Poolin is already faring well and it is gunning for new markets in the crypto industry, which its VP, Alejandro de la Torre, says is “evolving more and more to regions outside of Asia.”
Now, it is planning to open an office in Berlin, Germany to make the multi-currency pool’s first international office in Europe. The move is as a result of a European tour which de la Torre said they completed recently as a means to build and educate the mining and cryptocurrency community in general.
“It is only natural that we want to be a part of this evolution by providing our excellent services to a global audience”, he says. “This evolution has to do with an influx of new mining farm operators who believe in this industry and see mining as an integral and fundamental aspect of cryptocurrency. These individuals believe in a long term vision.”
Bitmain had a similar operation before it shut down its Amsterdam operation earlier in 2019 – after closing its Israeli branch – as part of its business adjustments effort. Bitmain is now more into offering a resource that will connect mining hardware owners with mining farms with excess host them.
“It’s very important for us to educate anyone that is interested. This will attract bright minds and help build the industry further,” de la Torre says about the tour. “Also, we met many miners along the way, and listened attentively to their issues and concerns – with the intention to address them. Furthering our mission of being a customer-first mining pool.”
Poolin is banking on its technical and customer support experience to gain the edge that will guarantee global success in the crypto mining industry which mainly centres on giving mining farm operators the assurance and trust they need to be able to forecast for their future business.
On what has changed in the last two years, de la Torre believes the mining sector is heating up and there are multiple reasons for this. “New stronger and more efficient miners, the halving coming up soon and, in my opinion, I think people are beginning to see that this industry is here to stay,” he says, adding that there are still more Chinese mining pools could change soon as more pools venture onto the international stage. “China was at the right place at the right time. Moving forward, we at Poolin sees mining moving into many different regions in the world, like North America and Northern Europe. This new phenomenon will not dissipate anytime soon. I foresee mining taking place all over the world.”
So far, China is still considered the base for most mining pools. More than 80% of them are located in China while countries like Iceland — 5%, Japan — 3%, Czech Republic — 3%, Georgia — 2% and India — 2% cater for the remainder outside China. As at this writing, Poolin tops the hashpower ranking with a share 16.7% – about 2% higher than its runner-up F2pool and BTC.com at 12.3%.