Bermuda-registered insurance company Relm has launched a new policy specifically for Bitcoin miners to help them cope with losses caused by damage to mining facilities, denominated in Bitcoin. (Preliminary summary: Bitcoin miners’ income hit a new low this year in August, analysts: US$56,000 is the last line of defense) (Background supplement: CryptoQuant: Bitcoin miners’ selling pressure dropped sharply! BTC started a new round of rise in Q3) From Bit Since the currency completed its latest round of halving events in April this year, Bitcoin miners have faced huge operating pressure due to the fluctuation of BTC prices and more intense industry competition. Just yesterday (3rd), Relm, an insurance company registered in Bermuda, stated in an announcement that the company has launched a new insurance to provide protection specifically for Bitcoin miners to help them cope with mining accidents. Losses caused by damage to facilities. Relm miner insurance is denominated in Bitcoin. It is worth mentioning that the insurance provided to miners by Relm this time is different from the general insurance denominated in fiat currency, but denominated in Bitcoin. In other words, when Bitcoin miners purchase insurance, they will encounter In the event of a loss, you can receive Bitcoin that will be compensated by the insurance company. In this regard, Relm said that this insurance can protect miners from obtaining funds to maintain their operations when they face equipment damage or downtime caused by power shortages. It is also worth noting that the launch of this insurance also benefited from the Innovative Underwriters General Business License (IIGB) issued by the Bermuda Monetary Authority, which also allows insurance companies to compensate miners in Bitcoin. It can be seen that the ecological development of the Bitcoin mining industry is becoming more and more complete, and it can be expected that more insurance companies like Relm will provide related services in the future. Bitcoin miners’ profits hit a new low this year in September. Bitcoin currently continues to fluctuate above $60,000, and September is also a difficult month for Bitcoin miners. According to data from theblock.co, total revenue for Bitcoin miners in September was $815.7 million, a decrease of $35.66 million from August, setting a record for the lowest monthly revenue in 2024. Among them, US$801.84 million came from Bitcoin’s block reward of 3.125 BTC, and transaction fees totaled US$13.86 million. It was also the lowest revenue month of the year so far. Related reports: Russia mined 54,000 BTC last year. Putin: Russia has become the world’s leader in cryptocurrency mining. Catizen listed Binance’s 59th Launchpool for new coin mining, and $CATI surged 32% before the market opened. Bitcoin Mining and AI : Who is using up power resources faster? "Bitcoin miners insurance is here! Relm: Protection against damage to mining facilities and power shortages with "compensation in BTC"" This article was first published in BlockTempo (Dong District Dongzhu - the most influential blockchain news media) ).

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