Bitmain Tech opens new Bitcoin mining pool in Israel, dubbed as “Home of Bitcoin Miners”

Golden Finance News - Recently, Bitmain Tech has opened a new Bitcoin mining pool in Israel, called Connect BTC. Bitmain Tech’s latest move marks the establishment of the company’s first Bitcoin mining operation in the Middle East.

Bitmain Tech opens new Bitcoin mining pool Connect BTC in Israel Image source: Golden Finance

Bitmain Tech, a Bitcoin mining hardware manufacturer (i.e. Bitcoin mining machine manufacturer) and Bitcoin mining pool operator, has been expanding its business since its establishment in 2013. The company not only produces mining hardware such as Bitcoin mining machines, but also operates several Bitcoin mining pools at the same time. It is reported that the company is headquartered in China.

Bitmain, which operates both the BTC.com mining pool and the well-known Bitcoin mining pool Antpool, announced this week the launch of its Israel-based Ra’anana R&D company and Bitcoin mining pool Connect BTC.

The newly opened Bitcoin mining pool is a global mining pool that is known as the “Home of Bitcoin Miners.” Connect BTC has a PPS plan that is expected to provide a 6% subsidy to all members and claims to have “high returns that are easily accessible.”

BTC General Manager Gadi Glikberg Image source: Golden Finance

BTC General Manager Gadi Glikberg said in the announcement,

“Our role as a Bitcoin mining pool is to provide liquidity and stability to miners. We provide real-time data to miners through an easy-to-use UI while keeping the payment schedule simple and stable. In recent years, Bitcoin mining pools have seen fake payment methods emerge, which trick miners into participating and shift the risk to the miners.”

Bitmain’s latest venture adds a new dimension to the company’s many branches and future plans. The company also announced plans last year to expand its bitcoin mining operations in the United States through its subsidiary MGT Capital.

In addition, Bitmain is also building a large data facility in China's Xinjiang region. Bitmain said at the time that the project would build 45 buildings in a dust-free zone, all for Bitcoin mining. The project would use 140 megawatts of electricity to drive the mining pool operation.

Bitmain subsidiary Connect BTC currently has a hashrate of 10.43 PH/S on the network, and has been increasing since the initial operation of the mining pool. Glikberg, general manager of Connect BTC, said that this is because "the high subsidy of the PPS plan allows ordinary miners to benefit from the increase in transaction fees while avoiding any risks", which has attracted more and more ordinary miners to join the new mining pool.