News

Miner Dashboard (Beta)

Bitcoin miners can withdraw mining rewards daily without minimum payout threshold + zero fee offramp to fiat.

@talkinandy

• 2 min read
Miner Dashboard (Beta)

TL;DR:

  • Loka is launching Miner Dashboard (Beta)
  • Bitcoin miners can now direct their hashrate to our platform and withdraw their mining rewards daily without a minimum payout threshold.
  • Payouts can be withdrawn in ckBTC (ICP), USDT (Arbitrum), or directly off-ramped as fiat to a bank account/e-wallet (currently only IDR, with more currencies to be added later) with zero fees.
  • No wallet is needed; a non-custodial ICP address is automatically generated the first time miners connect to the platform.
Hashrate dashboard

Problem we're solving

Almost every mining pool has a minimum payout threshold (typically around 0.005 BTC), meaning smaller miners with fewer than 20 ASIC machines often have to wait several days or weeks to receive their mining rewards.

For these smaller miners, converting their mining rewards to fiat involves several steps:

  1. Depositing into a CEX
  2. Trade to local currency
  3. Withdrawing to their bank account.

Each step adds costs, which can be significant relative to their mining rewards.

Miner Dashboard Beta

With this current release, which can be accessed at https://miner.lokamining.com, Loka addresses these problems by offering:

  1. Daily mining reward payouts with no minimum threshold.
    Miners can receive payouts every day, regardless of their hashrate size.
  2. Almost zero transaction fees.
    Mining rewards are brought to L2 in ckBTC, utilizing a non-custodial solution with chain-key technology by ICP, thereby avoiding high transaction fees. Converting back to native BTC is also very easy.
  3. Zero Fee Atomic Swap from ckBTC (ICP) to USDT (Arbitrum).
    Using HTTPS outcall technology, a cross-chain HTLC (Hash Time Lock Contract) is initiated, enabling instant withdrawal from mining rewards (ckBTC in ICP) to USDT in Arbitrum, without using any centralized exchange, and without fees.
  4. Instant offramp to fiat, zero fee.
    We're in partnership with offramp provider, enable IDR withdrawal directly from ckBTC to major bank accounts and e-wallets (Gopay, OVO, Dana, LinkAja) in Indonesia, without charging any fees. More countries will be supported soon.

Although we're technically not a "mining pool" yet, but this release brought us one step closer to our vision; making Bitcoin Defi & Mining accessible for everyone.

Join our discord to become part of our community. We're building something awesome here.