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River Financial to let clients will be able to mine Bitcoin without having to set up or run machines.

River Financial, a bitcoin technology and financial services company based in San Francisco, would allow its customers to purchase bitcoin mining rigs and begin mining without having to set up and manage the machines themselves.

River Financial, according to its website, has launched a service called "River Mining," in which consumers may purchase Bitmain's Antminer S19j Pro miners and monitor the mining operation via a smartphone app.  Each miner has a mining power of roughly 100 terahash per second. The computational power of a machine is measured in terahash.

River Mining clients will own their mining hardware, and the bitcoin generated will be transferred straight into their River accounts, according to the business. The corporation has begun pre-selling the devices and has established a waiting list on its website. To begin started, customers can pay for just one miner.

Once they have purchased the miners, clients will be responsible for the electricity bills as well as a monthly hosting fee.

Early in 2022, the first miner will go online, according to River Financial CEO Alex Leishman's emailed statement. The service will be offered to clients in the United States at first, but the corporation hopes to spread it globally in 2022, he said.

The product is being released at a time when bitcoin mining has become a profitable business with high profit margins as the price of the world's largest cryptocurrency by market value has risen. However, the difficulties of putting up equipment and the lack of affordable electricity have made it difficult for new entrants to break into the industry. "Chip shortages, supply chain failures, and high home energy bills have made it more difficult to enter mining," Leishman added.

“River Mining eliminates these barriers for clients by making it simple for them to own, operate, and generate bitcoin with their own bitcoin mining fleets,” he added.