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9 November 2018

Cryptocurrency Exchanges

Bitmain Deploys 90,000 S9 Mining Machines in Xinjiang Ahead of BCH Hard Fork

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In order to increase computing power in this pre-existing hunting, AtoZMarkets has learned that Bitmain is expediting the deployment of 90,000 S9 mining machines in Xinjiang. Some antminers have currently been deployed.

November 9, 2018 | AtoZ Markets - Cryptocurrency mining giant, Bitmain has reportedly deployed an extra 90,000 S9 mining machines in order to increase the computing power in this pre-existing hunting ahead of the November 15 Bitcoin Cash (BCH) hard fork blockchain.

According to the report, the Antminers were deployed to Xinjiang, the western Chinese region. 

Bitmain Prepares Ahead of BCH Hard Fork war

The mining giant is reported to be getting ready for the forthcoming computing power war between the two versions of Bitcoin cash that come out of the fork, so as to ward off potential attacks, thus reaching out to local mining farms in the coal-rich region of Xianjing.

The local mining pool operator, Yu Hao has explained to the local news outlet DeepChain, that Bitmain has been in talks with almost every local mining farms since October with the aim of hosting about 90,000 of its S9 machines and increase its hash power. He was quoted as saying:

“[Bitmain’s] AntPool requested that a single mining farm should host over 5,000 machines. But in fact, only a few mining farms can satisfy their demand.”

Bitmain is believed to own over 1 million bitcoin cash in its wallets, thus making it a major holder with a lot to lose in the imminent contentious hard fork. Moreover, an unidentified source at the firm who is well acquainted with the matter has asserted:

Half of Bitmain’s marketing staff have gone to Xinjiang to talk with local mining operators about deploying equipment.

As per DeepChain’s report, Bitmain was able to exploit the coal energy generated in regions such as Xinjiang and Inner Mongolia, as hydropower stations in southwest China insufficient to supply power to meet the firm's energy-intensive requirement.

Bitcoin is More Concerned About BCH Development 

While the Bitcoin Cash network has constant maintenance hard forks, the forthcoming one threatens to split the blockchain in two as some of the crypto’s proponents back Bitcoin ABC, the team that has originally spearheaded the upcoming hard fork.

Meanwhile, others are in support of Bitcoin SV, the team backed by Craig S. Wright, the self-proclaimed “Satoshi Nakomoto.” 

Both teams have a different view of what upgrades should be implemented on the Bitcoin Cash blockchain, but their proposals are not compatible. While Wright is advocating for a Bitcoin Cash protocol that is known as Bitcoin-SV (BSV), DeepChain has reported that ABC development team has so far been backed by major mining pools such as, AntPool, ViaBTC, Bitcoin.com, BTC.top, and others.

The local news outlet further stated that the largest BCH mining pool, CoinGeek, BMG, and SBI have all advocated for BSV and that some Chinese miners have planned to mine BSV as early as November 10 so as to ensure maximum effectiveness by the time the fork is launched.

Binance, Coinbase, Endorses Network Upgrade

At press time, Bitcoin Cash is trading at $596 with the 24 hours volume of $74.28 million according to coinmarketcap.com data. BCH has a market capitalization of $10.28 billion. It is also worthy of note, that Binance as per DeepChain, has been joined by Coinbase, the leading US crypto exchange in endorsing the network upgrade.

Think we missed something? Let us know in the comments section below.

Xinjiang Antminers Bitmain Mining Machines ASIC Bitcoin Cash
The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZMarketz.com, nor should they be attributed to AtoZMarkets.

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