PAXMINING Launches Unverified Cryptocurrency Mining Service

TLDR

• PAXMINING claims to operate over 70 mining farms.
• No verification from Kraken or credible sources available.
• Regulatory approvals and funding details remain undisclosed.

PAXMINING has announced a new cryptocurrency mining service for Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). The service promises automated mining with daily payouts. However, the claims have not been verified by primary sources or reputable channels. No official confirmation from company founders, executives, or credible exchanges is available.

The announcement comes through a press release on GlobeNewswire, mentioning a partnership with Kraken. Yet, Kraken has not echoed this on their official platforms. There is no verifiable information connecting PAXMINING with any known crypto leaders or executives.

Unverified Operational History and Claims

Marketing materials claim PAXMINING was established in 2017, operating over 70 green mining farms for more than 8 million users. These figures lack substantiation through corporate registry filings or technical documentation.

The press release also describes a “one-click mining” feature, but no technical data or on-chain proofs are available. Additionally, no known executives or founders have made public announcements regarding operations or audits.

Funding and Asset Impact Unclear

Information regarding funding rounds or institutional investments remains absent. Mention of a strategic partnership with Kraken is uncorroborated, lacking confirmation via familiar exchange channels or corporate disclosures.

The press release suggests support for multiple cryptocurrencies, but without confirmation from relevant networks or exchanges, the real impact on these assets is unknown. There are no on-chain addresses or identifiers for further verification.

Industry Reactions and Regulatory Standing

No known crypto influencers or leaders have commented on PAXMINING through verified channels. There is also no evidence of any regulatory standing or approvals from entities such as the SEC or FCA.

The absence of official filings or licenses further complicates verification. Observers are left without clear signals from the regulatory perspective, making it hard to assess compliance status.

What’s Next for Potential Verification

Key indicators to watch include any official statement from Kraken about the partnership. Additionally, the release of verifiable on-chain data or announcements from credible figures could lend legitimacy to PAXMINING’s claims.

Without such verifications, treat PAXMINING’s claims as unverified. The community should continue to seek credible information sources and on-chain data for reliability.