Bitmain’s BTC.com is Launching an Ethereum Mining Pool
Bitmain Adds Ethereum Mining Pool: The world’s largest Bitcoin mining pool is cheating on Bitcoin. Bitmain’s BTC.com is expanding to add an Ethereum mining pool which will initially support both Ethereum and Ethereum classic.
Users will now be able to switch their hashing power from one pool to another, in light of what’s happening in the market.
The announcement was made earlier today from BTC.com, which has earned its place as the largest Bitcoin mining pool in the world, having mined 21% of all Bitcoin blocks last year.
According to Bitmain project director Zhong Zhuang, the decision was made to “help Ethereum scale its mining infrastructure.”
He furthered that the firm will “expand Ethereum’s network by relaying … rewards through our system,”—a reward system where participants earn crypto for participating in the pool.
The new pools will offer GPU and CPU mining options as a reactionary measure to help deal with falling prices across the crypto market this year. This is despite the fact that Bitmain released its own Ethereum Asics miner—the Antminer E3—earlier this year.
“GPU miners are versatile, still profitable and are not easily replaced in a bear market. It’s common for miners to split investment into both. Also, there are already ASIC miners for Ethereum and Ethereum Classic which are easier to set up and are dedicated to ethash mining. This will save us from supporting a huge list of GPU coins simultaneously.”
If this mining pool for Ethereum is effective, then BTC.com may launch more mining pools in the future with a focus on the top ten coins. BTC.com, however, is choosey; any coin being added must stand up to par in terms of quality of its network, code, roadmap, and volume of trading.
What are your thoughts? Will BTC.com soon become the world’s leader for Ethereum mining also?
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