What is a Hash Market

John Sostak
November 12, 2023
min read

How Atomic connects Bitcoin miners with Bitcoin buyers.

Atomic is a Bitcoin hash market, but what is a Bitcoin hash market? The Atomic hash market is a platform that aggregates the work being produced by Bitcoin miners and then sells it to buyers who use the work to capture Bitcoin. The price to lease these computers is based on market demand which is influenced by the price of Bitcoin and the contribution to the Bitcoin network. By leasing miners, buyers can mine their own Bitcoin without having to build and operate facilities. Bitcoin you mine is unique because it has not been on an exchange. Bitcoin mined is issued by Bitcoin Core.

Bitcoin is produced by ASIC computers hashing an algorithm called SHA256. High powered computers also known as miners are running/mining/hashing SHA256 in data centers that are also known as mining farms. When a miner guesses the right number, it wins a block of Bitcoin. This happens about every 10 minutes, 24/7/365.

Most miners pool their high-powered ASIC computers and mine together to improve their odds of capturing a block of Bitcoin. They then split the Bitcoin captured based on the specific contribution of each miner in the pool to the network. Slushpool was the first mining pool. They are now known as Braiins and they are still the leader in all thing related to Bitcoin mining software. https://braiins.com/ 

A buyer on Atomic can lease computers for 24 hours, point them at a mining pool like Braiins, and when they capture a block, receive Bitcoin directly from Bitcoin Core, through Braiins or whichever pool they choose to use, to their unique Bitcoin wallet. The risk related to an exchange is eliminated. 

Nicehash created the hash market as a business in Slovenia about 10 years ago and is responsible for onboarding millions of Bitcoiners through mining. Atomic differs from Nicehash in a few ways by being a Bitcoin only platform, that accepts and can deliver payment in USD, and is a proud Texas company, Atomic Server Software, LLC. It is undeniable that Nicehash is the leading hash market for Proof of Work for every cryptocurrency algorithm that accepts and delivers payment in Bitcoin. Atomic is grateful for Nicehash and everything they have done for Bitcoin miners. https://www.nicehash.com/ 

Atomic advantages for Bitcoin buyers are they receive Bitcoin that has no transaction history, and they also may receive tax benefits for their business because they are leasing computers.

Atomic advantages for Bitcoin miners are the premium that can be captured from the buyer, the elimination of pool fees, and Atomic can pay you in USD. Most miners sell a significant percentage of their Bitcoin to pay for power and operations. Consider sending this to Atomic and bypass the trading desk and receive daily ACH or bank wires to your business bank account from Atomic.

Atomic will be live and open to the American Bitcoin mining industry in Q1 2024. 

Whether you are a Bitcoin miner or buyer / investor in Bitcoin, create an account and Atomic will send you an invite to Mine on Atomic.

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