NiceHash Embraces Lightning Network: Revolutionizing Cryptocurrency Mining Payouts

NiceHash, a hashpower marketplace and cloud mining platform, has launched its integration of the Lightning Network, a popular scaling solution in the cryptocurrency payments industry.
Utilizing 2.2% of the network’s total capacity, one of the oldest and most productive Lightning nodes in the world, NiceHash pays out more than 1,800 times a week.
Through its marketplace, NiceHash connects miners and users wishing to mine particular cryptocurrencies. This allows mining power to be rented. Lightning payouts have improved infrastructure, streamlined the payment process, and improved user and miner experiences.
It’s evident that our users adore Lightning payouts a few weeks after we introduced them. We’re honored to rank among the network’s top backers in terms of operational nodes and, as of late, usage growth. The CEO of NiceHash, Vladimir Hozjan, stated, “We will be pushing adoption even more in the future. Lightning lends itself very well to making small and regular payments.”
Users have been actively using Lightning mining payouts since the feature was introduced. They have created over 700 Lightning addresses every week and have received 1,800 payouts on average. Amidst an increasing number of buyers and sellers in the marketplace expressing interest in utilizing the Lightning network, the platform also reported 1,136 deposit transactions.
NiceHash has handled more than 350,000 Lightning transactions and more than 1,500 BTC in transaction volume since launching its node.
Although the total transaction count is impossible to obtain due to the private nature of the Lightning network, preliminary comparisons indicate that NiceHash users are transacting almost twice as much each week as those who used the early Kraken Lightning integration statistics in 2022.
Looking ahead, NiceHash intends to introduce NiceHash Pay, a payment solution that leverages its vast operational experience to allow merchants to accept Bitcoin via the Lightning Network.
NiceHash, which was established in 2014, claims to be the largest hashpower marketplace globally, with over a million users from 190 countries and over 250,000 active miners every day. The platform serves as a middleman between hashpower buyers and sellers.