Bitmain In Last Minute Preparation Ahead of BCH Hard Fork
Mining firm Bitmain is working with local miners to put to use its antiminer machines. The BCH hard fork has been endorsed by Coinbase and Binance.
Bitmain Throngs West China With Mining Machines
The crypto industry is getting ready for the upcoming Bitcoin Cash hard fork slated for November. Mining company Bitmain is among the many getting ready for the release. The firm is now hurrying to put to use about 90,000 Antiminer S9 devices in various parts of China.
The devices will be used in the Xinjiang zone in China. Before the fork, Bitmain is allegedly laying down mechanisms under its computer power struggles. The firm is contacting mining companies in the Western part of China.
According to Yu Hao, a mining base, Bitmain has contacted a majority of the local mining entities since last month. Bitmain wants the firm to deploy about 90,000 S9 devices. Bitmain wants each pool to deploy more than 5,000 devices. However, all the local mining firms cannot meet the demands of Bitmain.
A source that has remained anonymous, alleged that Bitmain had sent about half of its marketing personnel to Xinjiang. The staff has been tasked with persuading the local firms to use the hardware.
DeepChain states that the region and some parts of Mongolia have had an upper hand when it comes to dealing with companies like Bitmain. Some power producing centers within the South have been unable to provide enough electricity to meet the energy demands.
Bitmain was established in Beijing and it’s known to have a significant amount of Bitcoin Cash in its reserves. The firm is supporting the Bitcoin ABC hard fork. ABC has its focus on the scalability issue. The updates have been opposed by nChain which is under the supervision and support of Craig Wright, who has in the past laid claim to being the real Satoshi Nakamoto. Wright is pushing for Bitcoin-SC. However, Wright seems to be alone considering that leading pools are supporting Bitcoin ABC. Some of the pools include BTC.com and ViaBTC.
Reports by CoinGeek indicated that BCH mining pool, BMG and SBI might go the Wright way and support BSV. Additional reports indicate that a section of miners from China want to start mining BSV from November 10 in preparation for the hard fork. The preparation is meant to enhance efficiency.
Ahead of the hard fork, exchange platform Binance stated that it will support the upgrades. The move has led to a spike in the value of Bitcoin Cash. Currently, BCH is valued at $586.51 at the time of press. Alongside Binance, Coinbase will also support the hard fork.