Bitmain to Invest $3M in Fraud-Fighting Startup

The tribeOS platform runs on Bitcoin Cash blockchain and specializes in developing solutions to counter fraud in the advertising business
09 August 2018   1421

The Chinese manufacturer of mining equipment Bitmain invested $ 3 million in the tribeOS startup.

The tribeOS platform runs on Bitcoin Cash blockchain. Startup specializes in developing solutions to counter fraud in the advertising business.

It is known that advertisers annually lose about $ 19 billion due to falsifications of statistical data and traffic.

As the developers stated, the automated digital media market with solutions from tribeOS will start operating in 2019.

Also, tribeOS, together with the Bermuda Business Development Agency
intends to create a FIRE token with the help of Bitcoin Cash. Among the startup advisors is the ardent supporter of the Bitcoin Cash fork, Roger Ver and the senior software engineer at Coinbase, Josh Ellitorp.

Bitmain to Reduce BTC Mining Hashrate by 88%

Total hashrate of Bitmain equipment used for mining on the SHA-256 is 237.29 PH\s; month ago it was 2072 PH/s
08 May 2019   239

The leading manufacturer of mining equipment Bitmain in the past 30 days has reduced the hashrate of bitcoin mining by 88%. This is evidenced by data reporting, which the company publishes monthly.

As of May 7, the total hashrate of the equipment used by Bitmain for mining cryptocurrencies on the SHA-256 algorithm (Bitcoin and Bitcoin Cash) is 237.29 PH/s.

Bitmain's Hashrate on Different Algorithms
Bitmain's Hashrate on Different Algorithms

At the same time, just a month ago, the volume of the respective capacities was 2072 PH/s.

Based in Beijing, Bitmain not only manufactures equipment that is popular among miners, but also mines cryptocurrency using its own resources. The company began to publish reports on the available mining facilities in July last year. At that time, the hashrate of SHA-256 equipment was 1692 PH/s.

By October 2018, the hashrate had risen to 2339 PH/s, but by March it had already dropped to 1700 PH/s. Against this background, the share of Bitmain's computational power in the total bitcoin hashrate decreased from 4% to 0.4%.

After the April BTC price recovery, the amount of computing power of Bitmain began to grow again. At the same time, the total hashrate of the first cryptocurrency network, which has updated the six-month maximum by the beginning of May, began to recover with confidence.