Most Miners to Support Wright's Bitcoin Cash

64% of the hash capacities were sent to the version of Bitcoin SV promoted by the Craig Wright
13 November 2018   1397

According to data from the CoinDance analytical service, on the eve of Bitcoin Cash (BCH) hard fork scheduled for November 15, the majority of miners support an alternative implementation of Bitcoin SV. 

Coin Dance
Coin Dance

In total, 64% of the hash capacities were sent to the version of Bitcoin SV promoted by the “self-proclaimed Satoshi”  Craig Wright. In support of the traditional implementation of BCH called Bitcoin ABC, only 18% of the hashrate is currently sent.

The diagram below shows that the CoinGeek, SVPool, BMG Pool, okminer and mempool pools supporting Bitcoin SV have a very significant share in the total Bitcoin Cash hashrate (more than 70% in total).

Coin Dance
Coin Dance

Bitcoin SV 0.1.0, as representatives of nChain are convinced, is the realization of Satoshi Nakamoto’s “true vision”, which described Bitcoin as electronic money. Among the main technical characteristics of this client, an increase in the limit on the block size from 32MB to 128MB, as well as the implementation of four Satoshi opcodes: OP_MUL, OP_INVERT, OP_LSHIFT and OP_RSHIFT.

Note that Bitcoin ABC and Bitcoin SV clients are incompatible. Consequently, on November 15, Bitcoin Cash is likely to split into two competing chains.

Argo to Report on Mining Profitability Increase in Q2

It was also reported that by the end of June, company owns about £ 3 million in crypto assets, which is 7.7% higher than expected
03 July 2019   239

The British mining company Argo Blockchain published a financial report for the second quarter of 2019, according to which its revenues increased significantly in the second quarter, exceeding its own expectations.

So, in comparison with the previous report, published in early June, the income from mining Argo Blockchain increased by 24%. The increase in profitability from mining at the same time turned out to be proportional to the increase in the Bitcoin price observed during the recent period.

The Company now expects to generate 161 BTC, or GBP1.38m of cryptoassets, in June based on a BTC price of $10,817.16 USD as of 30 June 2019. This is an increase of approximately 101% from the Company's May mining results and represents a mining margin of roughly 81%. The Company considers that this demonstrates that the Company is one of the most efficient miners in the market.

Argo Blockchain Team

Argo Blockchain also said that as of the end of June, the company owns about £ 3 million in cryptocurrency assets, which is 7.7% higher than expected.

Also Argo Blockchain intends to expand its activities. In particular, the company plans to deploy another 2500 miners in Quebec by the end of the third quarter, which is also expected to significantly increase revenues.

Our better-than-expected mining performance reflects both improving industry conditions as well as Argo's business strategy, which has enabled it to rapidly ramp up operations and thereby take full advantage of the upturn. As a result, we enter the third quarter with a strong momentum to deliver further growth and improving mining efficiency.

Mike Edwards

Executive chairman, Argo

It should be noted Argo Blockchain was the first cryptocurrency company, the placement of shares of which was approved by the London Stock Exchange last June.