ViaBTC CEO Interview | CoinCodex

We recently had the opportunity to speak with Haibo Yang, CEO and Founder of viaBTCwhich is currently the third largest Bitcoin mining pool in the world. In addition to Bitcoin, ViaBTC also supports other major cryptocurrencies such as Litecoin, Bitcoin Cash, and Kaspa.

We asked Yang for his thoughts on multiple key topics, including regulation, Bitcoin halving, Bitcoin price movements, and ViaBTC’s competitive advantages. Insights on some topics were also provided by members of the ViaBTC team.

Without further ado, let’s get straight into the interview.

What is your outlook on the future of Bitcoin mining, especially in the context of environmental concerns and increasing global regulation? How does ViaBTC address these challenges?

Haibo Yang: Over the past year, the cryptocurrency mining industry has exceeded expectations in market performance. For example, Bitcoin continued to increase its hash rate after the fourth halving, and its price surpassed $100,000, a feat widely expected by the community. At the same time, we have witnessed the revival of legacy currencies such as BELLS and LKY and the steady development of emerging projects such as Kaspa.

While cryptocurrency mining has faced skepticism in the past, especially after Ethereum moved to Proof of Stake (PoS), the industry is seeing renewed optimism. Although rewards from major Proof-of-Work currencies such as Bitcoin and Litecoin have declined due to halving cycles, the emergence of new Proof-of-Work currencies and market recognition of veteran meme coins through embedded mining has revitalized interest in this area.

Proof of Work (PoW), as the oldest and most proven consensus mechanism, offers distinct advantages. It ensures a high degree of decentralization, allows open participation, and provides a double guarantee of value and network security through the costs inherent in maintaining the network. These features make Proof of Work (PoW) a fair and efficient model for issuing cryptocurrencies.

Historically, many blockchain projects have tried to address various challenges but have struggled to achieve success. At its core, blockchain’s greatest value remains providing a reliable solution for global assets and currencies. This fundamental strength is what continues to drive the success and recognition of Bitcoin and other veteran proof-of-work projects.

Looking to the future, proof of work remains a flexible and successful consensus mechanism. Their simplicity and accessibility make Proof of Work (PoW) coins easier for the market to understand and adopt. I believe that the proof-of-work sector will continue to create new opportunities and demonstrate its enduring vitality, even in the face of evolving environmental and regulatory challenges. ViaBTC is committed to adapting to these changes by pursuing innovative solutions, promoting sustainable mining practices, and ensuring a safe and efficient mining experience for all users.

How has ViaBTC prepared for the Bitcoin halving in 2024, and what impact will lower mining rewards have on your business and the broader mining industry?

Via BTC Team: Since our founding in 2016, ViaBTC has participated in numerous Bitcoin halving events, gaining valuable experience along the way. In preparation for the halving in 2024, we have been closely monitoring the Bitcoin network and improving our systems to ensure a stable and efficient mining environment for our users. These measures helped miners maintain steady profits despite the challenges posed by the halving.

The decline in mining rewards has led to a significant decline in daily Bitcoin production for miners. However, as the price of Bitcoin has steadily risen, the monetary value of mined Bitcoin has remained largely unaffected. As a result, the overall network hash rate continued to grow even after the halving. This suggests that miners remain confident in Bitcoin’s long-term potential, as they view it as outweighing the impact of reduced rewards. Their optimism prompted them to continue their mining activities, which contributed to the stability and overall growth of the industry.

There are many cloud mining scams, which offer a daily return of 1% or more. How does one spot such a scam?

Via BTC Team: At ViaBTC, we are not in the business of cloud mining. We advise miners to either purchase their own mining machines or purchase hashrate from reputable platforms that can prove the real, verifiable hashrate. To ensure reliability, miners can link the purchased hashrate to ViaBTC for testing. One major red flag to watch for is unrealistic promises of stable, high returns, such as a 1% daily profit.

What makes ViaBTC unique compared to other companies and services in the mining space?

Haibo Yang: Over the past eight years, ViaBTC has grown steadily, establishing itself as an industry leader in terms of user base and hashrate. Our success is rooted in our unwavering focus on mining pools and our commitment to continuous product and technology innovation.

Since day one, we have specialized in the mining pools sector, and have improved our product offerings and technical infrastructure to deliver a reliable and professional experience. Building a world-class mining group requires overcoming challenges in technology, product design, and customer service, a mission that our dedicated team has embraced wholeheartedly.

What really sets us apart is prioritizing user asset security and stable revenue. As a mining pool, our primary mission is to provide users with a trustworthy platform that guarantees consistent mining rewards. We have earned the trust of miners by delivering on this promise, and this trust has been instrumental in attracting an increasing number of users to our platform.

By staying true to our mission, ViaBTC continues to stand out as a trusted and dependable partner in the mining industry.

What advice would you give to newcomers who want to start mining Bitcoin or other cryptocurrencies today? What are the key factors to consider before investing in mining hardware or services?

Via BTC Team: As the cryptocurrency industry develops, mining has become increasingly competitive. For starters, it is essential to evaluate your options and plan carefully before investing in mining equipment or starting a mining operation.

For small-scale mining, you will need a suitable location for your hardware and must take into account factors such as electricity costs and local regulations regarding cryptocurrency mining. For large-scale mining, it is recommended to partner with professional mining farms. These facilities provide the necessary space, maintenance and operational support, simplifying management and reducing complexity.

If you decide that mining is a profitable and sustainable option for you, connecting with a reliable mining pool like ViaBTC is essential. We provide beginner-friendly guides and a very stable mining pool service that has earned a good reputation in the industry. By ensuring a stable connection between your devices and our pool, you can enjoy a smooth mining experience. Our mobile app also allows you to monitor your hash rate in real time and quickly troubleshoot issues with the hash rate alert feature.

To improve profits, miners can choose from flexible withdrawal and transfer options. ViaBTC offers automatic withdrawals, manual withdrawals, and fee-free transfers to CoinEx, as well as automatic and manual transfer features. These tools enable miners to maximize their returns based on their financial goals and risk preferences.

What is the highest price you think Bitcoin will reach this cycle?

Via BTC Team: As long-term advocates, we focus less on forecasting price peaks during specific cycles and more on monitoring broader market and industry trends. Although volatility is expected in the short term, we remain confident in Bitcoin’s long-term potential and the sustainable growth of the cryptocurrency industry.

Bitcoin continues to have the strongest consensus in the cryptocurrency market. This is evidenced by increased public support, including shifts in sentiment from figures such as Donald Trump, who showed a more positive stance towards cryptocurrencies during his election campaign. Globally, Bitcoin is now a major asset for institutional monitoring and investment.

After the price of Bitcoin crossed the $100,000 mark, it reflects growing optimism among investors about the future of the cryptocurrency space. However, markets are cyclical, and the current phase of adjustment requires close monitoring. We will continue to monitor market sentiment and policy developments to better understand and adapt to future trends.

Right now, the cryptocurrency market is very active, but we may see a downward trend in the future. How is ViaBTC preparing to handle a potential future bear market?

Via BTC Team: The cryptocurrency market is currently experiencing a bullish phase, and we hope that Bitcoin’s upward trajectory will continue. However, as part of the financial market, the cryptocurrency industry is volatile and cyclical in nature. Market corrections can happen at any time, and although this uncertainty is challenging, it is also what makes financial markets dynamic and exciting.

ViaBTC has been in operation since 2016 and has successfully navigated many bull and bear market cycles. This experience gives us the confidence and experience needed to effectively handle future market downturns. Regardless of market conditions, our priority remains providing high-quality mining services by constantly improving our products and user experience. This commitment to excellence ensures we remain resilient in any market environment.

To address concerns about potential price declines, we have developed two financial instruments: a hedging service and cryptocurrency loans. Our hedging service allows miners to lock in profits during favorable market conditions by selling future profits at higher prices. At the same time, our cryptocurrency loans provide temporary liquidity, enabling miners to maintain operations and maximize returns when the market rebounds. These tools are designed to help miners navigate market volatility effectively and protect their long-term profitability.

What are ViaBTC’s top priorities in 2025? Can you share some plans for next year?

Haibo Yang: My vision for ViaBTC has always been for it to remain a focused, trustworthy and professional mining pool. With that in mind, we approach each new feature or update with deliberate care to ensure we stay true to our core values.

Our primary focus continues to be improving the mining experience for our users. I often remind my team that continuing to provide mining pool services and achieving the highest level of professionalism is the greatest value we can provide. By prioritizing reliability and ease of use, we help miners feel secure and supported. To protect user interests and assets, we exercise judgment and discipline when expanding our offerings or introducing new features.

Every new feature we roll out will prioritize the security of user assets and providing a seamless experience. We aim to ensure that all updates provide real value, making ViaBTC a platform that users can trust and rely on.

As for new cryptocurrencies, our decisions are based on comprehensive assessments of market conditions. We monitor emerging coins closely, assessing their market size, community strength, and long-term potential. In addition, we perform technical assessments of blockchain networks to ensure their stability and security, and reduce risks to miners’ profits. Only after careful consideration will we decide to support the new currency.

We deeply respect market dynamics and believe in the power of time. With a long-term perspective, ViaBTC will continue to provide safe, stable and reliable mining services to miners, enabling sustainable growth and returns. I believe 2025 will be a transformative year for the cryptocurrency industry. Miners should stay alert to market trends, especially developments in mainstream proof-of-work currencies and embedded mining opportunities, and adjust their strategies accordingly. Let’s seize the opportunities and surprises that 2025 has in store!