ViaBTC CEO Interview | CoinCodex

Recently, we had the opportunity to talk to Haipo Yang, the CEO and founder of ViaBTC, which 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 about his thoughts on multiple key topics, including regulation, Bitcoin halvings, BTC price movements and ViaBTC’s competitive advantages. Insights on some topics were also provided by ViaBTC team members.

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

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

Haipo Yang: Over the past year, the crypto mining industry has exceeded expectations in market performance. Bitcoin, for instance, has continued to see its hashrate climb following its fourth halving, and its price has surpassed $100,000—a milestone widely anticipated by the community. At the same time, we’ve witnessed the revival of veteran coins like BELLS and LKY and the steady development of emerging projects such as Kaspa.

While crypto mining has faced skepticism in the past, especially after Ethereum’s transition to PoS, the industry is experiencing renewed optimism. Despite decreasing rewards from major PoW coins like Bitcoin and Litecoin due to halving cycles, the rise of new PoW coins and the market recognition of veteran meme coins through merged mining have reinvigorated interest in this space.

PoW, as the earliest and most proven consensus mechanism, offers distinct advantages. It ensures a high degree of decentralization, allows for open participation, and provides a dual guarantee of value and network security through the inherent costs of maintaining the network. These attributes make PoW a fair and effective model for cryptocurrency issuance.

Historically, many blockchain projects have attempted to address various challenges but struggled to succeed. At its core, blockchain’s greatest value remains in offering a reliable solution for global assets and currency. This fundamental strength is what continues to drive the success and recognition of Bitcoin and other veteran PoW projects.

Looking ahead, PoW remains a resilient and successful consensus mechanism. Its simplicity and accessibility make PoW coins easier for the market to understand and adopt. I believe the PoW sector will continue to create new opportunities and demonstrate its enduring vitality, even amidst evolving environmental and regulatory challenges. ViaBTC is committed to adapting to these changes by pursuing innovative solutions, promoting sustainable mining practices, and ensuring a secure and efficient mining experience for all users.

How did ViaBTC prepare for the 2024 Bitcoin halving, and what impact has the reduction in mining rewards had on your business and the broader mining industry?

ViaBTC Team: Since our founding in 2016, ViaBTC has navigated several Bitcoin halving events, gaining valuable experience along the way. In preparation for the 2024 halving, we closely monitored the Bitcoin network and optimized our systems to ensure a stable and efficient mining environment for our users. These measures helped miners maintain steady earnings despite the challenges posed by the halving.

The reduction in mining rewards significantly decreased the daily BTC output for miners. However, with BTC’s price steadily rising, the monetary value of the BTC mined has remained largely unaffected. Consequently, the total network hashrate continued to grow even after the halving. This indicates that miners remain confident in Bitcoin’s long-term potential, viewing it as outweighing the impact of reduced rewards. Their optimism has driven them to persist in their mining activities, contributing to the overall stability and growth of the industry.

There are many scams in the cloud mining business, offering a 1% daily return or more. How can one spot such a scam?

ViaBTC Team: At ViaBTC, we do not operate in the cloud mining business. We advise miners to either purchase their own mining machines or buy hashrate from reputable platforms that can demonstrate verifiable and genuine hashrate. To ensure reliability, miners can connect their purchased hashrate to ViaBTC for testing. One key 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 business?

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

From day one, we have specialized in the mining pool sector, refining our product offerings and technical infrastructure to deliver a reliable and professional experience. Building a top-tier mining pool requires overcoming challenges in technology, product design, and customer service—a task our dedicated team has embraced wholeheartedly.

What truly sets us apart is our prioritization of user asset security and stable revenue. As a mining pool, our core mission is to provide users with a trustworthy platform that ensures consistent mining rewards. We’ve earned the confidence of miners by delivering on this promise, and this trust has been instrumental in attracting a growing 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 they should consider before investing in mining hardware or services?

ViaBTC Team: As the crypto industry evolves, mining has become increasingly competitive. For beginners, it’s crucial to carefully evaluate your options and plan before investing in mining equipment or starting a mining operation.

For small-scale mining, you’ll need a suitable location for your machines and should consider factors like electricity costs and local regulations on crypto mining. For large-scale mining, partnering with professional mining farms is recommended. These facilities provide the necessary space, maintenance, and operational support, simplifying management and reducing complexities.

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

To optimize earnings, miners can choose from flexible withdrawal and conversion options. ViaBTC offers automatic withdrawals, manual withdrawals, and zero-fee transfers to CoinEx, along with automatic and manual conversion features. These tools empower miners to maximize their returns based on their financial goals and risk preferences.

What’s the highest price you think Bitcoin will reach in this cycle?

ViaBTC Team: As long-term advocates, we focus less on predicting peak prices within specific cycles and more on observing broader market and industry trends. While short-term volatility is expected, we remain confident in Bitcoin’s long-term potential and the sustained growth of the crypto industry.

Bitcoin continues to command the strongest consensus in the crypto market. This is evident from increasing public support, including shifts in sentiment from figures like Donald Trump, who demonstrated a more favorable attitude toward crypto during his campaign. Globally, Bitcoin is now a key asset for institutional observation and investment.

Having surpassed the $100,000 milestone, Bitcoin’s price reflects growing optimism among investors about the future of the crypto space. However, markets are cyclical, and the current phase of adjustment requires close observation. We will continue to monitor market sentiment and policy developments to better understand and adapt to future trends.

Currently, the crypto market is quite active, but we may see a downtrend in the future. How is ViaBTC preparing to tackle a potential future bear market?

ViaBTC Team: The crypto market is currently experiencing a bull phase, and we hope Bitcoin’s upward trajectory will continue. However, as part of the financial market, the crypto industry is inherently volatile and cyclical. Market corrections can happen at any time, and while this uncertainty is challenging, it’s also what makes financial markets dynamic and exciting.

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

To address concerns about potential price declines, we’ve developed two financial tools: Hedging Service and Crypto Loans. Our Hedging Service allows miners to lock in profits during favorable market conditions by selling future earnings at higher prices. Meanwhile, our Crypto Loans provides temporary liquidity, enabling miners to maintain operations and maximize returns when the market rebounds. These tools are designed to help miners navigate market fluctuations effectively and protect their long-term profitability.

What are the top priorities for ViaBTC in 2025? Could you share some plans for the upcoming year?

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

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

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

As for new cryptocurrencies, our decisions are based on thorough evaluations of market conditions. We closely monitor emerging coins, assessing their market size, community strength, and long-term potential. Additionally, we conduct technical assessments of blockchain networks to ensure their stability and security, minimizing risks to miners’ earnings. Only after careful consideration will we decide to support a new coin.

We deeply respect the dynamics of the market and believe in the power of time. With a long-term perspective, ViaBTC will continue to offer miners secure, stable, and reliable mining services, enabling sustainable growth and returns. I believe 2025 will be a transformative year for the crypto industry. Miners should stay alert to market trends, particularly developments in mainstream PoW coins and merged mining opportunities, and adjust their strategies accordingly. Let’s embrace the opportunities and surprises that 2025 has in store!