Share this article
Crypto Mining Firm BitNile to Start Bitcoin-Based Marketplace Next Year
BitNile may also be looking to diversify its business away from bitcoin mining, given the squeeze on margins the industry has experienced in recent months.
Updated May 9, 2023, 3:59 a.m. Published Oct 13, 2022, 11:19 a.m.
Bitcoin mining firm BitNile (NILE) plans to set up a bitcoin-based marketplace in the first half of next year aiming to reduce the complexity of conducting transactions in bitcoin.
BitNile intends for the marketplace to be a multi-vendor e-commerce platform, available on a mobile phone or web application that can provide multiple services including payment processing, according to an announcement on Thursday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The Last Vegas-based firm is seeking to make using bitcoin for transactions more attractive both by making it convenient and by offering lower transaction fees than those in traditional e-commerce.
BitNile may also be looking to diversify its business away from bitcoin mining, given the squeeze on margins the industry has experienced in recent months with bitcoin's depressed price and high energy costs.
The grim outlook was compounded further earlier this week when the Bitcoin network's mining difficulty surged to an all-time high, meaning it has never been harder for miners to extract new bitcoin.
Read more: Bitcoin Miner Crusoe Energy Buys Fellow Flared-Gas Operator GAM
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Exodus joins stablecoin race with MoonPay-backed digital dollar
The public crypto wallet firm joins Circle and PayPal in issuing stablecoins.
What to know:
- Exodus is launching a fully reserved, USD-backed stablecoin with MoonPay to power self-custodial payments in its crypto wallet app.
- The stablecoin will support Exodus Pay, a new feature enabling users to spend and send digital dollars without relying on centralized exchanges.
- With the launch, Exodus joins a short list of public companies, including PayPal and Circle, backing stablecoin products.
Top Stories
