Cryptsy, digitalBTC partner to form mining asset trading platform Mintsy

Coindesk reports that digitalBTC and altcoin exchange Cryptsy have joined forces to launch Mintsy, the latest of digitalBTC’s series of digitalX products.

digitalBTC conducts mining and trading activities. It is publicly traded on the Australian Securities Exchange with a market cap of near $21 million.

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Mintsy will offer tradable mining contracts and even mining infrastructure.

According to Cryptsy head Paul Vernon, one of the goals is to marry up the trading and mining platforms. The plan is for every traded coin to have a counterpart represented on Mintsy.

Cryptsy already offers some trading of mining contracts, but the venture with digitalBTC will greatly expand the quantity of hashing power available, as well as the choice of coins and hashing algorithm.

Currently, traded mining contracts are for 20 TH/s. Mintsy will make available a total of 1 PH/s (1 PH = 1000 TH), with 100 TH/s “hashfracs”. There will also be “litefracs” and “xfracs”, for Litecoin and another yet-to-be-determined algorithm, respectively.

Cryptsy is investing $250,000 in digitalBTC as part of the deal.