Alibaba Launched Cloud Mining Platform

January 16, 2018

Alibaba Launched Cloud Mining Platform

Following the local media, Alibaba, the largest IT-company of China, has set its own crypto mining platform going. The service was called P2P Nodes.

Well-known Twitter account cnLedger was the first to share this news. It also added that according to the new service report Alibaba plans to make use of mining functionality on its main trading floor as well.

As Tencent says, P2P Nodes is to be a cloud service where users will have an opportunity to take a part of the company’s computers on lease. The source also points at Alibaba treating the project with extreme caution so today mined funds can be withdrawn via company’s special AliPay service as fiat currency only. According to the terms of service, direct withdrawal of cryptocoins is impossible.

After all Jack Ma, the company’s CEO, used to claim a month ago that they were not going to deal with cryptocurrencies.

«I don’t think we are ready for that. Bitcoin [is] not for me», said Ma.

Remarkably, this launch happened along with reported policy tightening for cryptocurrency market by the Chinese government.

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