Cloud mining and hashpower marketplace platform, NiceHash, has gone live with the integration of Lightning Network, a widely adopted scaling solution in the crypto payments space.
With over 1,800 weekly payments, NiceHash leverages one of the oldest and highest performing Lightning nodes globally, which holds 2.2% of the network’s total capacity.
The NiceHash marketplace facilitates the rental of mining power, connecting miners with users who want to mine specific cryptocurrencies. The introduction of Lightning Payments simplifies the payment process, upgrades infrastructure, and provides a better experience for both miners and users.
“A few weeks after introducing Lightning Payments, it’s clear that our users love this feature. We are proud to be one of the early supporters of the network both in terms of operational nodes, and now also in terms of vehicular use. Lightning lends itself very well to making small and regular payments and we will push its adoption even further in the future,” said Vladimir Hozjan, CEO of NiceHash.
Since introducing Lightning Mining Payments, users have actively engaged with the feature, creating over 700 Lightning addresses each week and receiving an average of 1,800 weekly payments. Additionally, the platform recorded 1,136 deposit transactions amid growing interest in using the Lightning Network by both buyers and sellers in the marketplace.
Since establishing its node, NiceHash has processed over 350,000 Lightning transactions and more than 1,500 BTC in transaction volume.
While the private nature of the Lightning Network precludes total transaction counts, initial comparisons suggest NiceHash users are transacting nearly double on a weekly basis compared to early data from Kraken’s Lightning integration in 2022.
Looking ahead, NiceHash plans to launch NiceHash Pay, a payment solution that merchants will be able to accept via the Lightning Network, drawing on its extensive operational experience.
Founded in 2014, NiceHash bills itself as the largest hashpower marketplace in the world, with over 250,000 daily active miners and more than 1 million users in 190 countries. The platform acts as an intermediary between sellers and buyers of hashpower.