A new Ethereum token called “Wrapped Bitcoin” just launched Thursday. How Wrapped Bitcoin Works The purpose of the new cryptocurrency is to enable Bitcoin users to “participate in Ethereum smart contracts natively on the Ethereum blockchain.” Last October Bitcoin custody company BitGo announced a partnership with Kyber Network and Republic Protocol to launch Wrapped Bitcoin (WBTC), a token on the Ethereum blockchain that acts as a 1-to-1 token backed by Bitcoin reserves. In a blog post announcing the new token BitGo stated: “WBTC users will be able to utilize Bitcoin in a wide variety of new decentralized use cases, including
Coinmint LLC is turning to junk lending in order to fund a massive new mining operation. The project will repurpose a now-closed industrial site.
Coinmint LLC is in the midst of a project to transform an aluminum smelter into a massive crypto mining operation by turning to the debt market. The operation is taking place in Massena, New York, just south of the Canadian Border. The site itself is the former home of an unused industrial smelter previously owned by Alcoa Corp.