Lumerin Integrates Portal for Decentralized Bitcoin Mining and Cross-Chain Hashpower Trading

Today, we announced a new partnership with Lumerin, a company that is changing how we think about Bitcoin mining. By teaming up with Portal, the first trust-minimized, cross-chain swaps that involve no bridges, custody or wrapping, Lumerin is making it easier and more secure for people to trade Bitcoin mining power across different blockchain networks.

Lumerin Hashpower Marketplace is built on Arbitrum and turns Bitcoin mining power into something you can buy and sell. Lumerin’s integration of Portal’s cross-chain atomic swaps technology means miners worldwide can expand the reach of trustlessly selling their Bitcoin hashrate contracts, not just for Lumerin’s native token $LMR, but for any supported asset on a multitude of other blockchains. This is a big deal because Lumerin empowers both individuals and institutions to now have access to newly mined BTC without actually operating expensive mining equipment.

Bitcoin miners offer contracts for their mining power directly on Lumerin’s platform, using Lumerin’s own digital currency. This could help them earn a more stable income, even when the prices of cryptocurrencies fluctuate. The timing is perfect because the upcoming Bitcoin Halving event in April 2024 will cut the rewards for mining Bitcoin in half. This partnership offers miners a new way to manage the impact of this change.

The Portal-Lumerin integration is also a step forward for privacy in Bitcoin transactions. Through Lumerin, users can acquire “virgin” Bitcoin, which are brand-new coins that haven’t been used in any transactions yet. These are in high demand because they’re more private and secure. Lumerin’s integration with the Portal DEX Network will significantly elevate one-click accessibility to Bitcoin that has never been spent or transacted outside the Ethereum ecosystem, including existing Bitcoin holders.

Finally, there’s exciting news for collectors and traders: Lumerin’s mining contracts are going to become NFTs. This means you’ll soon be able to trade these contracts, just like other digital collectibles, across different blockchains. It’s noteworthy because we’ve already successfully demonstrated cross-layer, cross-chain Layer 1 and Layer 2 swaps of NFTs on Bitcoin, including Ordinals and BRC-20 tokens.

This collaboration marks a significant milestone in the evolution of decentralized finance and cryptocurrency mining. By combining Portal’s secure, trust-minimized DEX capabilities with Lumerin’s hashpower marketplace, this partnership will enhance the efficiency, accessibility and security of Bitcoin mining and trading — and pave the way for a more robust and decentralized financial ecosystem.

Read the full press release about our Lumerin partnership here.

Official Social Media Links

Telegram | Announcement | Twitter | Medium | Discord | Website