BTC.com Mining Pool under Bitmain Launches ETH Mining Pool

Yesterday, BTC.com, a mining pool owned by Bitmain, a giant Bitcoin mining pool, officially announced its involvement in ETH mining, and made a "bold statement" that it could capture about 12% of ETH's hash value in a year.

Previously, the BTC.com mining pool had been developing its business in the "circle" of Bitcoin and Bitcoin Cash, but now it has started to "cross-border" and "look for" other mainstream currencies.

Coindesk reported that BTC.com will offer a new mining client through its pool.btc.com portal and will also provide an Ethereum block explorer and API. The pool will initially support Ethereum and Ethereum Classic.

It is worth noting that the Coindesk report also mentioned that the new mining pool will include two mining options: GPU and CPU. Zhuang Zhong, the head of the BTC.com mining pool, explained that this is because the crypto market is sluggish this year, and GPU mining machines can mine multiple cryptocurrencies and still have a certain profitability, and are not easily replaced in a bear market. Moreover, many miners will buy both mining machines at the same time.

BTC.com claims to have mined 21% of all Bitcoin blocks last year. Currently, the BTC.com mining pool accounts for about 16% of the entire Bitcoin hash rate and about 14% of the Bitcoin Cash network. For Ethereum, according to CCN, Zhuang Zhong (sound) said that the mining business is expected to grow to 12% of the total ETH hash rate in the next 12 months.

(Image source: CoinDance)

In the future, BTC.com may also consider launching mining pools for other “mainstream cryptocurrencies” such as Litecoin.

Earlier this year, Bitmain released the first Ethereum-based application-specific integrated circuit (ASIC), the Ethereum ASIC miner.